Seaboard Memorial Hall cashflow challenge eased with Highland fund help
AN Easter Ross hall at the heart of its coastal community has been given a welcome boost with its cashflow challenges.
Seaboard Memorial Hall in Balintore is involved in a wide variety of activities and in addition to being a local venue offers meeting room hire, hot desk workspaces and homemade baking and lunches.
In addition, visitor facilities are available for public use and include a disabled access toilet and shower, washing machine, tumble dryer and hairdryer. There is also a free chemical waste disposal unit.
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Facing a cashflow challenge following a large community project with recoverable VAT, Seaboard Memorial Hall Limited approached Highland Opportunity Investments Limited (HOIL) for funding help.
HOIL, Highland Council’s business loan company, supports Highland-based businesses and encourages applications from all business sectors, including community organisations.
Interested businesses benefit from straightforward loan conditions and a tailored offer to support their project.
The funds will contribute to the provision of facilities and services to the local community and beyond.
Recent initiatives include the completion of three stone entrances at the Seaboard Villages and the future development of The John Ross Visitor website.
Seaboard Memorial Hall Limited is a registered charity, which has been trading since 2001. The charity provides employment for 15 people and re-invests all its profits to provide facilities and services to the local community and visitors to Easter Ross.
Councillor Paul Oldham, chair of HOIL said: "I welcome this opportunity to help the Seaboard Memorial Hall with their finances. The hall provides invaluable facilities and services to the people of and visitors to the Seaboard Villages of Easter Ross.
“The community loan fund managed by HOIL provides accessible and affordable finance for community organisations across the Highlands and is one of several funds we can use to help projects across the area.”
Maureen Ross, director of Seaboard Memorial Trust Limited, said: “Cashflow for a business is so important and something we take very seriously.
“Due to the timing of recoverable VAT on a large community project we realised we would be under pressure for several months.
“Therefore, to keep operations running smoothly we took the proactive move of approaching Highland Opportunity Investments Ltd for a loan which would bridge that period of need easing pressure.The whole process was easy, and people were very helpful throughout.”
To find out more about the support HOIL can provide businesses with, visit www.hoil.co.uk or email hoil@highland.gov.uk
