Business Loans Case Study

Left to right: Ian Atkinson of Finance Yorkshire, Ivan Elcock, Claire Bedford and Andrew Elcock of Elcocks, Martin Bell of Red Sky

The Company

Elcocks is headed by brother and sister Andrew Elcock and Claire Bedford, together with their father Ivan, and was set up in 1971 by their grandfather, Claude. The business stocks a wide range of power tools from leading manufacturers and is a warranty repair specialist for Makita, Stihl and Black & Decker.

From premises in Goole, Driffield and its head office in York, Elcocks also sells a range of associated products from clothing to insulation tape.

The Challenge

The company needed to re-energise its sales and marketing strategy in order to further growth.

Finance Yorkshire Involvement

A £30,000 Business Loan from Finance Yorkshire has provided additional working capital which will enable Elcocks to create two new roles within the company – a sales rep and a trade counter assistant.

The Investment Rationale

Finance Yorkshire Investment Manager Ian Atkinson said: "Elcocks remains very much a family business which prides itself on first class customer service and this has enabled it to compete with names such as B&Q and Screwfix. We are pleased to support the team as they continue to grow and create new jobs, close to 50 years since the business was formed."

Future Expectations

Commenting on the Finance Yorkshire investment, Claire Bedford said: "We are always looking at ways to boost sales and improve our service."

Note: this case study is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire

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