Securing a loan of £37,000 from Business Loans Scotland, the Leanne MacVeigh Dance Academy has fully embraced their funds by opening a brand new purpose-built dance studio to fulfil the needs of the fast-growing performing arts school.
Based in Aberdeenshire, the passion and dedication from Owner, Leanne Mackay, has enabled the Dance Academy which provides top class training in a variety of subjects including ballet, tap and musical theatre to name a few, to grow substantially since its inception in 2013.
With a vision to open a purpose-built studio which would support the local community, Leanne secured the loan for £37,000 from Business Loans Scotland to support renovation works of two industrial units in Alford which will become the business’ brand new, contemporary dance studio.
“I have been running Leanne MacVeigh Dance Academy for 6 years and the business was getting to a stage where it was unable to grow due to the limitations of hiring various halls.” said Leanne MacKay, Owner of Leanne MacVeigh Dance Academy.
“I began to look for a suitable premise in which I would be able to convert into a purpose-built dance studio. I had personal savings in which I was willing to invest but I still required additional funding and having been turned down from my Business Bank for a loan I turned to Business Loan Scotland. I was assigned a mentor for the application process who was very helpful and reassuring. I loved the fact that they came to meet me in person and really got to know my business and what my future plans were.”
With renovations now complete, Leanne recently welcomed her students to the brand new facility which will also generate extra income for the business through studio hire and parties, she said:
“Business Loans Scotland granted me a fund match loan of £37,000 and that money along with my savings invested has meant I have been able to turn 2 industrial units into an amazing dance studio complete with a waiting room, cloakroom, toilets and small kitchenette. Having my own dance studio means that I am now able to add the additional classes for the children who have been on waiting lists, and generate more income from the addition of studio hire and parties. The Studio will also create a safe and welcoming environment that my students can call a home from home. I found the process from beginning to end with Business Loans Scotland very simple and would encourage any business looking to fund their next project to apply.”
Speaking of the loan issued to Leanne MacVeigh Dance Academy, Andrew Dickson, Fund Manager of Business Loans Scotland added:
“The £37,000 loan issued to the Leanne MacVeigh Dance Academy demonstrates our commitment to supporting small and medium-sized enterprises across Scotland with finance to grow. Leanne had a clear vision of how she wanted to grow her business and I’m delighted that Business Loans Scotland has been able to support this through providing essential working capital to develop the brand new purpose-built dance studio. I look forward to watching the business flourish in the upcoming months and would encourage any Scottish SME looking for access to finance to speak with the team at BLS to see how we can help.”