New bar restaurant opens in historic park
A bar restaurant has been opened at an historic park by a team including a MasterChef winner thanks to funding from the Community Investment Enterprise Fund through Wolverhampton-based BCRS Business Loans.
1000 Trades On The Park is operating from premises at Grade II-listed Lightwoods Park and House in Bearwood after securing £140,000 to innovate and grow from CIEF, split equally in loans from BCRS and ART Business Loans.
Building on the success of their 1000 Trades bar in Birmingham’s Jewellery Quarter, which opened in 2016 and is named after the city’s reputation for hosting 1,000 trades during the 1800s, owners Jonathan Todd and John Stapleton have created 15 jobs with the Bearwood venture, backed by executive head chef Dan Lee who won BBC TV’s MasterChef Professionals in 2021.
1000 Trades On The Park is among the first West Midlands businesses to benefit from the second CIEF, which was launched in March and backed by Lloyds Bank, the first mainstream lender at scale to finance loans for delivery through socially motivated Community Development Finance Institutions including BCRS Business Loans.
The new £62m CIEF offers funds to businesses unable to access finance from traditional sources. BCRS Business Loans is supporting the CIEF delivery in the West Midlands and Wales by providing secure loans between £25,000 and £150,000 to enable growth and recovery plans.
1000 Trades co-owner John Stapleton said: “We were not able to access finance from traditional bank routes so we were advised to engage with BCRS Business Loans and ART Business Loans to support our plans to turn premises which were previously a café and tearoom into a bar restaurant.
“We have benefited from the support of BCRS Business Loans and ART Business Loans to use the funds for fitting out the interior and kitting out the kitchens. 1000 Trades On The Park has a very different feel to the Jewellery Quarter as it is a hub for everyone, with people of all ages visiting the park and a true community feel.
“The experience of building 1000 Trades in the centre of Birmingham has given us confidence as, with the pandemic and the cost of living crisis, we have learned a great deal. Our mantra continues to be quality and variety, which is the approach we have now brought to Bearwood.”
BCRS Business Loans senior business development manager Lynn Wyke added: “Congratulations to the team behind 1000 Trades who have navigated a challenging period for hospitality businesses to grow. With a high calibre team including a MasterChef winner on board, BCRS Business Loans is pleased to support them through the new CIEF.
“Backed by funders including Lloyds Bank, the latest CIEF allows us to continue to support growing companies in some of the most economically challenged areas in the country to create jobs and bring further positive social impact.”
Rozna Haque, business lending manager at ART Business Loans, said: “ART’s remit is to ensure that viable businesses like 1000 Trades On The Park can access the finance they need so we have been delighted to fund their growth plans.
“The team have a great story to build upon and are all set to generate further success with their latest opening. Small businesses like 1000 Trades On The Park are the lifeblood of our region so we look forward to seeing them thrive and will continue to support companies with viable business plans looking to grow.”
Since BCRS Business Loans launched in 2002, it has provided loans worth more than £85m to businesses. A social impact report for the last financial year showed BCRS lent £6.5m to 72 businesses, safeguarding 999 jobs and creating 473 roles, adding £33.7m in value to the economy of the West Midlands and surrounding regions.
