Funding deal to help leisure business scale new heights
The Climbing Hangar hopes to scale new heights with a fifth site supported by nearly £500,000 of funding.
The money has come from the Flexible Growth Fund, a loan fund created by Liverpool City Region Combined Authority for local businesses to invest in creating jobs and boosting productivity. It is managed by MSIF’s Alliance Fund Managers.
The Climbing Hangar opened in 2011 and now employs more than 100 people, attracting 500,000 visits in a normal year.
The £496,000 of capital has supported the creation of its fifth site at the Matchworks Unit in Speke while a full renovation of the Sandhills site has been completed.
Ged Mac, founder of The Climbing Hangar, said: “The Flexible Growth Fund funding is an amazing opportunity to continue investing back into Liverpool, the city and people that nurtured and grew our now national company.”
The £20m Flexible Growth Fund is part of the Liverpool City Region Metro Mayor’s £75m business growth package, which is designed to support the local business community to recover, grow and create jobs from the impacts of the COVID-19 pandemic.
Jeff Cummins, MSIF investment manager, added: “Now is a crucial time to back local business to ensure recovery, and growth. The opening of the new site will create and preserve more jobs for the Climbing Hangar team.”