The independent charity has received a £2.5million CBILS loan from the bank, which will provide extra security as plans for reopening get underway following its enforced closure in March last year due to the coronavirus pandemic.
Throughout the last year, Birmingham Hippodrome has continued to bring culture to the region despite being closed for live performance through its learning and participation work and festival activity. This has included digital workshops, online festivals, visual art installations and education work with local schools.
Birmingham Hippodrome finance director Tim Maycock said: “The effects of the pandemic on the arts sector has been profound, both culturally and financially. The loan we have received from Lloyds Bank has given us a welcome and much needed safety net whilst moving forward with our reopening plans.
"We are now in a position where we can look ahead with confidence to welcoming audiences back to our venue and providing more cultural moments for people across the region to enjoy.”
Birmingham Hippodrome recently announced a two-phase reopening plan – firstly opening its doors to the public in May, welcoming back Van Gogh Alive, produced by Grande Experiences, before the auditorium will close for six weeks to be transformed back into a theatre and will reopen again with Andrew Lloyd Webber and Don Black’s classic musical Tell Me on a Sunday on August 24.
Tim added “Lloyds Bank has been a financial partner to the Hippodrome for close to forty years and its unwavering support is more important now than ever. With Lloyds Bank by our side we’re confident we will continue to provide enriching cultural experiences for many more years to come.”
Sonia Janagal, relationship manager at Lloyds Bank, said: “Birmingham Hippodrome brings so much to the city, be it providing the opportunity for local people to enjoy world-class performances, education work and festivals. We are delighted that our support will help give extra security throughout the next 12 months.
“While we are beginning to move towards the next step in the Government’s road map, we know some businesses are still being affected by the restrictions in place. We will continue to support them in the months and years ahead as part of our ongoing commitment to helping Britain prosper.”