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Cumberland and Westmorland Herald
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Cumberland and Westmorland Herald
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    Man arrested after assault in Penrith town centre

    Man arrested after assault in Penrith town centre

    Changes to lease accounting – how will this impact your financial statements?

    Changes to lease accounting – how will this impact your financial statements?

    Man fined £100 for using cashpoint in car park

    Man fined £100 for using cashpoint in car park

    Honour for man who devoted his life to Greystoke

    Honour for man who devoted his life to Greystoke

    Sheep breeder’s successful debut at Royal Highland Show

    Sheep breeder’s successful debut at Royal Highland Show

    Global engineering firm Babcock supports Eden charity

    Global engineering firm Babcock supports Eden charity

    Penrith Lions mark 50 years of serving community

    Penrith Lions mark 50 years of serving community

    £8,000 for two new nature reserve projects

    £8,000 for two new nature reserve projects

    Fun day in Penrith to celebrate community spirit

    Fun day in Penrith to celebrate community spirit

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    Penrith skipper Nicky Burns calls on team to keep winning

    Penrith skipper Nicky Burns calls on team to keep winning

    £100,000 target for new changing rooms extension

    £100,000 target for new changing rooms extension

    Medal success for Upper Eden tug-of-war team

    Medal success for Upper Eden tug-of-war team

    Eden man competes in Hyrox World Games

    Eden man competes in Hyrox World Games

    Double national triumph for Stuart Robinson

    Double national triumph for Stuart Robinson

    Patterdale’s Eden Eagles make history

    Patterdale’s Eden Eagles make history

    Penrith teen crowned British vault champion

    Penrith teen crowned British vault champion

    Penrith gymnasts represent North of England in finals

    Penrith gymnasts represent North of England in finals

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    New boss revealed for Penrith AFC

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Home Latest

£1 million coronavirus fund boost for Genesis Homes

by CWH
11 January 2021
in Latest, News
A A
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Nicky Gordon and John Blue, of Genesis Homes

A Penrith-based housing developer has been given  £1 million-worth of   Coronavirus Business Interruption Loan Scheme funding.

The loan, via Santander UK, will enable it to continue its roll out of housing development sites in the coming year.

Since launching in 2017, Genesis Homes has built and sold 158 homes over five developments.

The funding package will ensure that the business can continue with its ambitious growth plans, having generated revenues of nearly £20m in the last financial year.

The firm has continued to operate throughout the pandemic, despite ongoing issues with local lockdown restrictions that have reduced the number of available skilled workers and shortages in raw materials.

Despite this, Genesis Homes is still on track to build its target of at least 100 homes per year amid rising demand.

Nicky Gordon, managing director of Genesis Homes, said: “Santander’s prompt support has allowed us to focus on securing and rolling out our intended future housing development pipeline.

“When coronavirus hit, like so many businesses it caused interruption and disruption in several areas of our business delivery.

“The CBILS facility provides us with the crucial buffer and peace of mind we need to continue our exciting and progressive development programme.”

David Hitchmough, relationship director, Santander UK, added: “The building of new homes is a significant priority for UK Government, and Genesis Homes has grown at pace over a relatively short period of time.

“Genesis Homes has been a loyal customer of ours for four years and we are delighted to continue to support them as they strive to be Cumbria’s leading housebuilder.

“The CBILS funding will allow the business to adapt to challenges presented by COVID-19 restrictions and commit to its target of building at least 100 homes per year amid rising demand.”

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