Business Loans Case Study
Barnsdales Limited, which is based in Doncaster and Sheffield, but also has offices in Manchester, London and Lincoln, has secured a Business Loan to support its growth plans.
The business was established in 1905 and still remains a family enterprise and specialises in chartered surveying, property consultancy and estate agency. The majority of its services are provided to other businesses such as banks, insurance companies, property development companies and pension funds.
Barnsdales is expanding fast and needed working capital to enable it to realise its growth ambitions. Jason Barnsdale said: “Our turnover is 20% up on last year and we are aiming for more of the same next year. The auction side of the business is on track to double its growth yet again next year, and the residential property management side is also growing quickly.”
Finance Yorkshire involvement
Finance Yorkshire invested £60,000 from its Business Loan fund in Barnsdales, alongside facilities from Barclays. The funding package will provide working capital to help Barnsdales strengthen its geographical reach and continue the rate of growth achieved in recent years.
The Investment Rationale
Finance Yorkshire Investment Manager Karl Hodson said: “Barnsdales has been around for over a century, and has an excellent reputation in the industry. It has weathered the property downturn and is enjoying a real period of growth. It has worked hard to expand its reach well beyond the Yorkshire region, and the level of repeat business from clients speaks for itself.”
Barnsdales has a strong team in place to take the business forward and is winning more work across all sectors. The auction side of the business alone has doubled in size year on year for the last three years and the aim is to double yet again in 2016.
Jason Barnsdale said: “Business is good, we have a strong team in place, which we will be adding to further in 2016, and our network of offices ensures we have a great geographical reach. This funding from Finance Yorkshire comes at a very opportune time for us.”
Note: this case study is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire