Barclays Bank has approved a £2m Coronavirus Business Interruption Loan to The Aspinall Foundation, which includes the popular UK wildlife parks of Howletts and Port Lympne.
Both parks have 1,300 animals in total, with Howletts Animal Park home to over 400 of the world’s rarest and endangered species.
The mission of The Aspinall Foundation is to halt the extinction of rare and endangered species and return them to the wild where possible. Working closely with the two award winning animal parks it licenses, The Aspinall Foundation fund and manage animal protection projects in Congo, Gabon, Java and Madagascar, as well as providing financial support to other animal protection schemes around the world including India and Cambodia.
Port Lympne reserve is set on 600 acres of countryside, with a wildlife park and a collection of lodgings including a historic hotel and glamping. Revenue is generated through visitor income and secondary spend at the parks, but the main growth part of the business is accommodation. Port Lympne has 81 units in total with 13 different types of accommodation, allowing guests to stay at locations such as ‘Lion Lodge’ and the recently purchased 15th Century ‘Giraffe Hall’. They have bars and restaurants at both sites that have closed due to COVID-19, and are currently missing out on their peak business season which lasts from Easter until October half-term.
When the business began forward planning as the coronavirus pandemic emerged, the first thing it turned to was the CBIL scheme. The foundation’s Barclays Relationship Director was aware of their businesses growth ambitions for 2020 so was keen to help, and secured the CBIL credit approval within 3 weeks, with the loan being drawn down in three to four days. Without the funds coming in through its most profitable season, cash would have run out by the end of April, however the CBIL will now be able to aid cashflow until the end of July and ensure that the parks’ animals are fed and watered through these uncertain times. The CBIL will also help the business continue on its upward trajectory from the beginning of 2020, setting both of the animal parks up for a good year in 2021.
