CASE STUDY
Scotland’s First Minister Humza Yousaf vists
Dunbar Community bakery
DUNBAR COMMUNITY BAKERY
LOAN AMOUNT: £29,000
What was the loan used for?
Along with securing a grant from the Scottish Land Fund, the loan from Co-op Loan Fund will go towards the purchase of bakery’s existing premises and is part of an investment package combining previous loans from CLF that have helped with growth and the purchase of new equipment with the view to attract more customers to the high street and make sure community business continues to thrive. Co-op Loan Fund has been supporting the Bakery since its opening in 2011. This is the third loan in total to help with growth and development.
Background
Dunbar Bakery has been serving the community of Dunbar for over 150 years and as a co-operative with a membership of 1,300 since 2011. Wholly owned by its shareholders who mostly live in town or nearby, the popular high street bakery provides a range of bread, pastries, cakes and sandwiches to locals and wholesale customers. Although Covid had an impact on the bakery, it was able to stay open throughout the pandemic stepping up and providing a much relied upon and appreciated service at a difficult time for locals.
Investment in communities and local high streets
Co-op Loan Fund exists to empower co-operatives and the communities they serve by providing the accessible loan finance needed to breathe new life into local high streets and boost local economies. We want to see the economic benefits of a strong and healthy high street shared with employees, shoppers and the wider community rather than for private profit elsewhere.
A recent visit by Scotland’s First Minister Humza Yousaf praised the community bakery for bringing people together and helping regenerate the town’s High Street exemplifying the type of community empowerment the Scottish Government wants to encourage nationwide.
To find out more about a community co-ops loan please contact:
info@coopfinance.coop