With now 13 nurseries across 3 countries, the Acorn Early Years Foundation continues to grow it's mission in inspiring and leading the early childhood sector.
At Acorn, we are working towards our vision of 'a more caring and connected society' through four levels of change:
1. The Child
2. The Family
3. The Community
4. The Natural Environment
In order to instigate change at each of the four levels, Acorn Early Years Foundation needs to run an ethical, innovative and sustainable model of early years care and education which is inspiring to others.
This is done by maintaining a strong ethic of care and relational pedagogy, and by putting the professional development of their staff and team at the centre of everything they do.
In order to generate revenue, Acorn provides day nurseries, out-of-school clubs and playschemes, and training for the early years sector.
The £100,000 loan received was a part of the Resilience & Recovery Loan Fund, a £25m loan fund that has been established to make an existing government scheme (the Coronavirus Business Interruption Loan Scheme) more accessible to charities and social enterprises.
The cost of capital is 9% per annum for the first twelve months to reflect the higher risk to the fund during the capital repayment holiday (covered by Government and no charge to the borrower). 6.5% per annum from year 2 (after principal payments start).
“The loan has helped us survive the outbreak because it has given us working capital and enabled us to survive the cash flow requirements of salaries and rents for the business for six months. We are very confident now that by the end of the period of the loan, which we have for a year, we will be able to repay it”
- Zoe Raven, CEO and Founder.