• Bounce Back Loan agreed to help the business through the COVID-19 pandemic
• The five-star luxury boutique B&B opened its doors in 2015
The 25 Boutique B&B, a five-star luxury boutique B&B in Torquay, Devon, has agreed a five-figure Bounce Back Loan with Santander UK to support the business during the COVID-19 pandemic.
The B&B, which opened its doors in 2015 following a major refurbishment, hosts six individually styled luxurious bedrooms and has won several awards, including being selected as the ‘Best B&B in the World’ at the Travellers’ Choice Awards in 2019.
The business was forced to close at the outset of the pandemic and is unlikely to reopen at full capacity until Spring next year. Due to the sharp drop in income, and the requirement to pay back deposits on many cancelled bookings, the business applied for a Bounce Back Loan for additional support through the challenging period, which was confirmed by Santander within 24 hours.
Andy Banner-Price, Co-Founder of The 25 Boutique B&B, said: “As a hospitality business, we were among the first businesses to be closed down and are likely to be among the last to re-open. Although we have received some Government help thus far, we wanted peace of mind and security for our business, which the Bounce Back Loan has provided.”
Ken Jessney, Relationship Director, at Santander UK, said: “I am delighted we are able to support such a fantastic business that continues to shine a light on the hospitality sector here in Devon. Being able to release funding to the customer within 24 hours of application has provided much welcomed security and is testament to our teams working tirelessly to help businesses in the region.”
- Ends -
The information contained in our press releases is intended solely for journalists and should not be used by consumers to make financial decisions.
Notes to editors
Santander UK is hosting a series of free ‘Survive and Revive’ webinars for SMEs on how to bolster their business proposition. Covering a range of topics - from innovating effectively to aligning purpose and culture - our experts delve into some of the key ways in which businesses have adjusted, and thrived, since the outbreak of Coronavirus. You can find these webinars and a list of other helpful resources on our website: www.santanderbreakthrough.co.uk/coronavirus
For The 25 Boutique B&B, contact:
Andy Banner-Price E: firstname.lastname@example.org
Follow @santanderuknews on Twitter
The Santander press office operates from 8.00am to 6.00pm. Outside of these hours please call 0800 5877708.