Revered music venue Band on the Wall presents expansion plans with £ 150,000 loan
One of Manchester’s most revered concert halls, Band on the Wall, has secured six-figure funding from Lloyds Bank.
Inner City Music, which operates the venue, has secured a loan of £ 150,000 under the coronavirus business disruption loan program.
The facility will allow the site to continue with its growth plans, which were originally planned for next year.
The company plans to create two new performance spaces, which will double the capacity of the hall, with funding from the Arts Council England and the National Lottery Heritage Fund.
The loan will also allow the company to safeguard central management jobs and cover the cost of rescheduling the work.
It comes after the Northern Quarter site, which hosted Joy Division and Buzzcocks, was forced to cancel or postpone more than 400 events between March and summer 2021.
The lockdown saw the company grapple with cash flow issues and put the majority of its staff on leave.
Gavin Sharp, Managing Director of Inner City Music, said, “Music is all about shared spaces and bringing people together, but unfortunately the coronavirus pandemic has forced the industry into hibernation.
“Not only has this funding allowed us to save jobs for our core management team, it has also given us the financial leeway to move forward with our business expansion plans.
“As custodians of this piece of Manchester musical history, we look forward to emerging from the pandemic in a position of strength, ready to celebrate not only the history of our place of origin, but also the strong musical heritage. and dynamic of all Manchester communities. “
Expansion plans also include the possibility of creating classrooms and rehearsal spaces, where the company can continue its program of community events by working with schools to create music clubs, southern dance workshops. -Asian and the founding of a youth folk orchestra for Manchester.
Liam O’Hara, relationship manager at Lloyds Bank, said: “The coronavirus has had a huge impact on the entertainment industry and the companies in its supply chain.
“Band on the Wall faces significant uncertainty as to when it can resume operations, but Gavin and his team have used the downtime wisely to achieve their future growth plans.
“We are committed to supporting businesses like this throughout the coronavirus crisis, helping them meet immediate challenges and prepare for the future. “