21/10/2011

Ulster Banks On Belfast Spar Success

Despite austere times, 10 jobs have been created following the opening of a retail outlet on the site of a formerly vacant property in the heart of Belfast city centre.

The Spar store on Royal Avenue, has been refurbished with a substantial investment by owner and manager Declan McGonigle with the support of the Ulster Bank.

Declan, pictured (left) at the new store with Martin Convery of Ulster Bank said: "As this is my first venture I thought it would be difficult to find support, but Ulster Bank saw the potential in the business and has offered a range of financial and non financial support, which when starting out for the first time has proven to be invaluable."
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Finance for the business was provided by Ulster Bank through the Enterprise Finance Guarantee Scheme, a loan guarantee scheme intended to help businesses with insufficient security obtain bank finance.

Since its inception, Ulster Bank has provided over 80% of all funds drawn under the Scheme in Northern Ireland.

Martin Convery explained: "The Enterprise Finance Guarantee Scheme is one of a number of funding options we are making available to help viable businesses across Northern Ireland grow and develop," adding that the new business is one of over 5,000 new and emerging companies across the island of Ireland who have signed up to Ulster Bank's start up and early stage business package which was launched last year.

(BMcC)

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