Funding story and plans for the immediate future

After over a year since I first started the project and came up with the idea for the journey I am pleased to announce that I have recently signed a deal with Baltic Wharf boat yard in Totnes for a loan of £7000 over a 2 year period to enable me to buy my dream boat, a beautiful Contessa 26 called Gerunuk, a deal that has given the project an unbelievable boost.

Raising enough money through sponsorship to buy the boat was proving impossible and I was running out of time if I wanted to buy a boat to carry out some refit work over the winter, ready for training next summer. Being under 18 I could not acquire a loan with a bank, I had looked into the possibility and they soon rang me up, very keen to give me the money, it was great! Sadly when they found out I was under 18, a student, unemployed, living with my parents and the money was to buy a boat, they soon hung up! A great start I thought!

I really needed someone to commit to my dream, and the project. This didn’t happen however. So I came up with a new idea and set about making a proposal for companies to attain a loan for me, or give me a loan to purchase the boat. I would pay them back through advertising space, as well as raising other sponsorship and working through my gap year, but predominantly through the sale of the boat at the end. As it was a cash flow problem that I was having this seemed like the perfect solution. I am delighted to say that after numerous meetings and negotiations Baltic Wharf in Totnes have agreed! They really have really  taken hold of the idea and the project and without them I wouldn’t be in this situation now.

In total I went to visit 7 boats, travelling to Falmouth twice and numerous trips to Southampton and the Solent area. Ironically enough the boat I have ended up buying was hiding away in Brixham harbour! I had been interested in her before, however she was taken off the market due to the owners not wishing to sell her, so had gone hunting elsewhere; I had been interested in two other boats before fate intervened and Richard, owner of Gerunuk, sent me an email to say she was back on the market and was I still interest? The timing couldn’t have been better as I was just writing an email to the owner of Tanis, a Contessa 26 from Hamble at the time to arrange a survey for the following week! I had been messed about once before so was keen to get through the sale of the boat quickly. That evening when I got the email I actually drove to pick up the keys and had a look around her the following day. I fell in love with her instantly and made an offer for the asking price of £9 500 while sitting on her bow and that was that!

The immediate plans for this winter are to keep Gerunuk at Baltic Wharf boat yard to carry out some refit work, using there fantastic resources, advice and facilities. She is however in fantastic condition for such an old boat (1969) all credit to her previous owners, so little work needs to be done except mandatory work such as organising the lines so that they run aft to make it easier when sailing on my own, as well as safety aspects etc. She will then be relaunched from Baltic Wharf early April time where I will carry out training and work towards my Yachtmaster which I hope to achieve by early 2010 during the summer.

In between this I will be juggling my A Level exams as well as helming on Baltic Wharfs J80 in the Nationals, Cowes Week, J Cup, the round the island race and of course Dartmouth week and local Wednesday night series!

It has already been an amazing experience so far, learning how to deal with sponsors and exchanging what the project requires with what the project can offer to benefit a company. I love sharing my dream and the faith I have for the project with others and letting them see the passion and belief I have in the trip. When a company commits to the project and the journey is shared there is no better feeling.

I am still on the look out for other sponsors however and am in desperate need of more finance to cover refit work this winter and to take my trip on the next step of its journey. I hope that local business’s in the Dartmouth area will take hold of the idea like Baltic Wharf have, and will want to associate themselves with the excitement and adventure of this project, as well as associating themselves as a major player in Dartmouth. Baltic Wharfs initial input I hope has truly paved the way for other local companies to become a part of this ambitious and inspirational journey.

My sponsors and I are just starting out on what is going to be an amazing journey and experience for everyone involved and I cannot wait for to see what the future holds for us. There is obviously going to be hard times but I am not concentrating on them at the moment, you just look at the good times and that spurs you on to work harder to make it a reality.