Facebook - Birmingham Business Twitter - Birmingham Business Instagram - Birmingham Business

Travel agency receives vital funding

A West Midlands travel agency business has secured funding from Barclays to support them through the current crisis.

Four Oaks Travel, based in Sutton Coldfield, have secured the Coronavirus Business Interruption Loan Scheme (CBIL) in order to help their 300 clients to rebook their holidays.

The family business, which is owned by husband and wife John and Linda Young, was established in 1994.  Despite the popularity of internet holiday bookings, the business has continued to grow year on year which the couple put down to the personal service they offer to their clients, which is evidenced by the 98% repeat business the company receives.

Linda said: “We’ve been an established family-run travel agent for 30 years and have never touched our overdraft, but we are using this loan scheme because it’s the best option for the long run. After all this is over, we’re hoping all of our customers come back and book all the holidays they couldn’t go on now.

"Even though new bookings have stopped because of Coronavirus, we need this loan to stay open to support customers with existing bookings. It’s important that our customers can pick up the phone and talk to a human who can help them keep updated, and help them rebook their holiday or get a refund.

"Barclays actually reached out to us. Our relationship manager wanted to make sure we knew all of our options. It’s been great having someone we trust to explain the details to us and help us to apply for the loan.”

Parveen Dhillon, business manager at Barclays in Walsall, said: “Four Oaks Travel is a long-established business that enjoys a good reputation locally. I am delighted we have been able to support John and Linda through the provision of the Coronavirus Business Interruption Loan Scheme, who in turn can support their customers through what is a really challenging time.”

Surgical supplier secures vital funding

Barclays supports business as part of Coronavirus initiative

14th May 2020

Funding brings support for SMEs

Unity Trust Bank initiative will help businesses struggling during pandemic

15th May 2020

Coffee shop receives vital funding

Owners say support has increased cafe's chances of survival

30th July 2020

Wholesaler secures funding boost

Cash will help with cashflow and create three new jobs

20th October 2020

Data shows reliance on Covid support

One in ten Midlands workers were furloughed

8th December 2020

Barclays names new head of corporate banking

Expert will lead the Midlands team

4th August 2020

The changing face of our hospitality industry

Why Birmingham is set to benefit from the staycationing boom

23rd May 2019

Social enterprises could face hammer blow

Calls for vital scheme that encourages investment to be continued

9th June 2020

Restaurants see sell-out surge in bookings

Customers keen to get back to dining indoors

29th March 2021

New loan fund unlocks £40 million

Small businesses across the Midlands will benefit

28th January 2020

Intervention could save more jobs than furlough scheme

Trade body welcomes Government's decision to guarantee insurance

18th May 2020

Trio of new contracts for city agency

£1.2m 'travel' boost after new director appointment

14th February 2019

Construction firm completes multi-million pound project

Jewellery Quarter's largest residential scheme in years is created

6th September 2019

New year brings mixed fortunes

Retailers and landlords will need to take a flexible approach

4th January 2021

Praise for power station ash firm

MP impressed by pioneering work using by-products

21st September 2020