Three micro loans from Finance Wales help Elite Fitness get in good shape for the future and celebrate its tenth anniversary
A Cardiff gym which has received three loans totalling £90,000
from Finance Wales is celebrating its tenth anniversary.
Committed fitness enthusiast, Simon Harling set up Elite Fitness
in 2003 with the backing of a £30,000 loan from Finance
Wales. A second £30,000 loan three years later helped him to
expand his 10,000 square foot Fairwater gym.
2013 saw Finance Wales back Elite Fitness with another loan for
£30,000 to equip a new spin room, introduce a new club management
system and ramp up its marketing.
Membership has grown steadily over the years and Elite Fitness
now offers a comprehensive range of facilities including
purpose-built hot yoga and Pilates studios as well as spin,
physiotherapy and sports massage studios.
“Elite Fitness is run by specialists with a successful
track record in sports training. We focus on helping our
customers improve their performance and have built a loyal customer
base by introducing initiatives like white-collar boxing and small
group training. Our flexible payment options have also helped
to increase our revenues.
“Finance Wales invested in us at key stages of our development
and its long-term backing has enabled us to build a sustainable
business. With the latest investment we’ve been able to improve our
facilities and also introduce new systems to increase our
operational efficiency,” Harling explained.
Portfolio Executive, Kelly Jones said: “Simon is passionate
about fitness and keen to share this passion with others. He
has worked hard to achieve his long-term ambition and Elite Fitness
has an enviable reputation locally. I’m pleased that Finance
Wales has been able to back him on this journey and congratulate
him on Elite’s tenth anniversary.”
£1,000 - £50,000 micro loans are available from Finance Wales
from the £6 million Wales Micro-business Loan Fund as well as the
European-backed £150 million Wales JEREMIE Fund. They can help with
a range of investment needs, including start-up costs, capital
expenditure and stock purchases. Businesses often use them to
unlock much-needed additional investment. Finance Wales has a
streamlined application process which ensures it can be responsive
to businesses’ needs.
Simon Harling holds a number of sports-based qualifications from
the internationally renowned British Association of Sports and
Exercise Science and The National Strength and Conditioning
Association. He lectures in sports science and has worked
extensively with cyclists, footballers, squash players, triathletes