LA Aquatics: Aquarium Tranquillity

In today’s hectic, fast-paced world, the calming effect of an aquarium should not be underestimated. Aaron Wherry owns LA Aquatics, a shop specialised in aquatic livestock and dry goods, ranging from marine fish to corals and invertebrates. Located on the Isle of Wight, Aaron also offers maintenance packages to suit his clients’ needs, installing and maintaining aquariums of all types and sizes, be it a small tank or a full living reef.

But it wasn’t always calm and serene for Aaron. In his efforts to set up his business, his loan requests were rejected by several banks due to his credit history. He eventually turned to Fredericks Foundation, a Responsible Finance Provider, who extended the necessary financing to Aaron, offering him a loan backed by EIF through the EU Employment and Social Innovation programme. This allowed him to turn his business idea into practice. Aaron says that “Fredericks Foundation has really helped me to set up my business, and effectively, my life and I cannot thank them enough.”

Thanks to the EU programme, whose aim is to provide microfinance to vulnerable groups who want to set up or develop their business, Aaron is now focussing on growing his business by consolidating his customer basis and winning more contracts for the maintenance of aquariums. “I would like to have a larger shop and employ someone in the future”, he explains.

Company: LA Aquatics (United Kingdom)

Type of business: Retail; Aquatics

EIF financing: EaSI

Financial intermediary: Fredericks Foundation

For further information about EIF intermediaries in the United Kingdom, please refer to:
http://www.eif.org/what_we_do/where/gb