A Bath boutique hotel and its restaurant have become the first business in the city to get a loan from Barclays under the government-backed Coronavirus Business Interruption Loan (CBIL) scheme.
The Queensberry Hotel and Olive Tree Restaurant on Russel Street has received the £450,000 loan to support its cashflow, allowing it to pay is suppliers – many of them small local businesses themselves – as well as the salaries of its 45 staff. 
The 29-room hotel and Michelin-starred restaurant, which have been owned and managed by Laurence and Helen Beere for more than 20 years, has been closed for a month due to the pandemic. But securing the loan means it can look beyond the lockdown and plan ahead.
Laurence, pictured below, said: “In the space of seven days, we went from having our most successful year since opening to maybe losing everything we had built up over 18 years.
“However, when we went to Barclays for assistance, our relationship director’s assurance and support made us believe that our business would not fall over.
“Being able to access CBIL means we still have a business. And while we know the loan is our responsibility, it means that we can pay our staff at the end of the month, and make sure we can pay all we owe to our small, local suppliers as well.
“Looking ahead, CBIL means that our business has a future and the loan means we can get through this period and plan with confidence for the future.”
Barclays Bath relationship director Martin Crook added: “Barclays understands how important it is to provide reassurance to clients when they need it. When the coronavirus impacted The Queensberry Hotel and Olive Tree Restaurant, I was able to recommend their application to the scheme promptly and accurately.
“This loan, and how quickly it went though, means the owners can confidently tell their suppliers and colleagues that they will be paid what’s owed to them in the coming months.” 
The Beeres have invested heavily in the hotel, which is based in four Georgian townhouses, and its restaurant in recent years, earning top ratings on sites such as TripAdvisor. The couple took over The Queensberry in 1998 following careers with The Savoy and Cliveden.
The Olive Tree has three AA rosettes and was recently awarded its first Michelin Star – the only restaurant in Bath to boast one – while the hotel has four AA stars, was the 2017/18 Gold Award winner in the Taste of The West awards and has had a Certificate of Excellence from TripAdvisor since 2014.
Barclays is offering a range of measures to support business customers through this difficult period, including waiving everyday charges and fees for all business customers with a turnover below £250,000, capital repayment holidays and new overdraft facilities.
It is one of more than 40 accredited lenders working with the British Business Bank to operate the CBIL scheme. These lenders can provide up to £5m in the form of term loans, overdrafts, invoice finance and asset finance.
The scheme gives the lender a government-backed guarantee for the loan repayments to encourage more lending.
