The Early Learning Partnership, which operates five nurseries across South Shields with another setting due to open in September, faced cashflow issues and experienced a significant fall in revenue as a result of the pandemic. It closed its doors in March and furloughed all but a handful of its 110 staff needed to continue communications with parents and carers.
Managing director Eammon Gribben told Nursery World, ‘Up until the loan was released, which was last week, we have paid 40 percent of staff wages and the Government’s furlough scheme paid 60 percent, meaning that each member of staff could continue to take home 80 percent of their salary. But now, thanks to the loan through my banking partner, Lloyds Bank, we will open four settings on 1 June and will be able to pay core staff full wages.’
The nursery usually has 650 children on its books.
He added, ‘This new funding has helped to ease the strain on our cashflow. It has also given us the confidence to plan for a safe reopening. We’re really looking forward to welcoming the children back.’
The Early Years Partnership, founded by Eamonn and Susan Gribben, celebrated its 20-year anniversary in March. It has three outstanding settings: Westoe Village Kindergarten, Harton Village Kindergarten and Bede Burn Kindergarten.
Mr Gribben said, ‘We have a lot to be thankful for: the Government for the furlough scheme; the local authority for their support and the business loan. Also, thanks to training on how to achieve an outstanding setting, organised through Nursery World, we are looking forward to the future.’
The nursery group received a £200,000-loan through the Coronavirus Business Interruption Loan Scheme with Lloyds Bank.
More information
Businesses that are experiencing lost or deferred income as a result of coronavirus may be eligible for the government’s Coronavirus Business Interruption Loan Scheme (CBIL), Coronavirus Large Business Interruption Loan Scheme (CLBIL) or the Bounce Back Loan Scheme.
Lloyds' supporting businesses factsheet please visit: Early Learning Partnership
