Business Loans Case Study
AME Group employs 22 people and has a turnover of £1.5m. Its growth has been fed by demand for the rapid production of prototypes and replica models that can be exhibited at shows and tested before they enter mass production.
Although well-known as a prototype maker, AME Group wanted to enhance its design expertise and raise awareness of its creative offering. To do this, it needed to build its team.
Finance Yorkshire Involvement
A £20,000 Business Loan from Finance Yorkshire has enabled AME Group to expand its team and improve marketing.
The Investment Rationale
Finance Yorkshire’s Melanie Reynolds said: "AME Group has carved out a reputation for speed, quality and value for money which means it is trusted by an impressive portfolio of brands. The loan will help AME to enhance its already impressive design offering."
Ian said: "We have built a niche as a development company that offers a fast turnaround and high quality. This has enabled us to build a strong base of long-term customers. As the economy has picked up, our design revenues have grown so we have hired two people into that team. While technology continues to evolve, design skills remain crucial to the process. Our strategy is for our design revenues to catch up with those of our prototyping division."
Note: this case study is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire