A new bar and dining venue has opened in Birmingham’s historic Lightwoods Park, made possible thanks to £140,000 in funding.
The project, called 1000 Trades On The Park, has secured £140,000 in investments from the Community Investment Enterprise Fund (CIEF), split between BCRS loans and ART loans.
The venue is based on the good luck of the original 1000 Trades bar in Birmingham’s jewellery district.
Owners Jonathan Todd and John Stapleton, along with chef Dan Lee, who won MasterChef Professionals in 2021, have created 15 jobs with the new Bearwood location.
1000 Trades On The Park is one of the first West Midlands corporations to benefit from the new CIEF, introduced in March alongside Lloyds Bank.
The £62 million fund supports businesses that need secure financing from traditional sources, and BCRS commercial loans offer loans of between £25,000 and £150,000 for expansion and recovery.
John Stapleton, co-owner of 1000 Trades, said: “We have not been able to access financing through classic banking channels. Therefore, we were asked to interact with BCRS Business Loans and ART Business Loans for our plans to remodel the premises that were in the past a café and tea room into a bar and restaurant.
“We have benefited from business loans from BCRS and ART to use the budget allocated for interior design and kitchen equipment. 1000 Trades On The Park has a very different feel to the Jewelery Quarter, as it is a hub for everyone, with other people of all ages visiting the park and an authentic networking environment.
“The experience of building 1,000 looms in the centre of Birmingham has given us confidence because, with the pandemic and the cost-of-living crisis, we have learned a lot. Our mantra is still quality and variety, and this is the strategy we have now. taken at Bearwood.
Lynn Wyke, senior business development manager at BCRS Business Loans, said: “Congratulations to the team at 1000 Trades who have navigated a challenging era for hospitality business expansion. With a high caliber team adding a MasterChef winner on board , BCRS Business Loans is pleased to assist you through the new CIEF.
“With the support of funders who add Lloyds Bank, the newest CIEF allows us to continue to develop businesses in some of the most economically challenging spaces in the country to create jobs and have a greater positive social impact.