Since becoming a co-director of Templewicks in 2006, Jon Wicks has helped to grow the established Suffolk based letting and estate agency.
The business's strategic growth had been achieved through the early adoption of technology to help let properties, the acquisition of a local competitor and the addition of property sales to their services. Along with excellent business practices and a new highly visible shop in central Beccles, the business was well primed to enter its next growth phase.
The other director decided to take retirement and offered his 55% share of the business to Jon. Both wanted Jon to take full control of the business that they had built together, but raising the funds from his bank to buy his partner out proved to be somewhat of a stumbling block for Jon. His bank however referred him to us.
Jon was able to evidence to us a detailed business plan and strong financial forecasts which enabled us to have confidence in the business growth potential, so we agreed to loan the required funds.
With the help of our loan to Templewicks, we have enabled a local entrepreneur to achieve his ambition and ensured that the residents of Beccles can continue to benefit from the services of a friendly and trustworthy estate agent. The staff of this busy agency can now enjoy job security in their local area too.
Term: 60 Months
Jobs: 1 Saved
We are able to continue to assist businesses like Templewicks thanks to the support of our members and the CITR funds that they have invested. You can help to support more businesses like this by investing in Foundation East.