An entrepreneur is expanding her boutique jewellery business following a micro loan from the Development Bank of Wales.
Maggie Cross received a £5,000 loan from the Development Bank as she prepares to scale-up to meet customer demand.
The loan was financed by the Welsh Government’s £32.5m Micro Loan Fund, which offers loans between £1,000 and £50,000 to sole traders, small businesses and social enterprises in Wales.
The 29-year-old silversmith designer, who makes jewellery from recycled precious metals in her studio in Cardigan, will use the financial backing to invest in stock, casting and materials.
She is also preparing to launch a programme of workshops.
Ms Cross, who trained at the School of Jewellery in Birmingham, said: “I’m aiming to make my brand as sustainable as possible by only using recycled and environmentally-friendly materials. Since completing my degree my time has been spent building up my client base and social media following and the time is now right to expand my offering.”
She added: “The £5,000 loan from the Development Bank has made all the difference because it means that I’ve now got the working capital to invest in my products. Their support also means that I’ve got the confidence that the business has the potential to take off. I’m very grateful for their help.”
Assistant investment executive for the Development Bank of Wales Charlotte Price said: “We are pleased to be working with young entrepreneurs like Maggie, recognising that we have an important part to play in the Welsh Government’s commitment to supporting them.”
She added: “Maggie has been developing the business for a few years and has already built up a strong following. She is passionate about what she does so we have every confidence that she will make a success of the business.”
