The independent charity received a £ 2.5million CBILS loan from the bank, which will provide additional security as plans to reopen are underway after it was forced to close in March last year in due to the coronavirus pandemic.
Throughout the past year, Birmingham Racecourse has continued to bring culture to the region despite being closed for live performances through its learning and participation work and festival activity. This includes digital workshops, online festivals, visual arts installations, and educational work with local schools.
Birmingham Racecourse CFO Tim Maycock said: “The effects of the pandemic on the arts sector have been profound, both culturally and financially. The loan we received from Lloyds Bank gave us a welcome and much needed safety net while continuing our plans to reopen.
“We are now in a position where we can look to the future with confidence to welcome the audience back to our venue and provide more cultural moments for people across the region.”
Birmingham Racecourse recently announced a two-phase reopening plan – first opening to the public in May, again hosting Van Gogh Alive, produced by Grande Experiences, before the auditorium closes for six weeks for be converted back to a theater and reopen again with Andrew Lloyd Webber and Don Black’s classic musical Tell Me on a Sunday, August 24.
Tim added: “Lloyds Bank has been a financial partner of the Hippodrome for almost forty years and their unwavering support is more important than ever. With Lloyds Bank by our side, we are confident that we will continue to provide enriching cultural experiences for many years to come.
Sonia Janagal, Lloyds Bank Relations Manager, said: “Birmingham Hippodrome brings a lot to the city, be it an opportunity for local people to enjoy world-class shows, educational work and festivals. . We are delighted that our support will help provide additional security over the next 12 months.
“As we begin to take the next step in the government’s roadmap, we know that some businesses are still affected by the restrictions in place. We will continue to support them in the months and years to come as part of our continued commitment to help Britain prosper. “