Business Loans Case Study
Case study: Manufacturing
Finance Yorkshire provides valuable financial support to the manufacturing and engineering sector across Yorkshire and the Humber.
The venture capital and loan fund has the financial packages available for a variety of requirements to help businesses achieve their growth ambitions. It can also join forces with other investors to provide gap-funding for specific projects.
Uses for Finance from the Fund include:
· Premises expansion
· New property
· Working capital
· Support for growing international markets
Manufacturing facts and figures:
- Gross value added (GVA) for region generated from manufacturing – £16.3 billion.
- Manufacturing contributed 27% of GVA in East Yorkshire and Northern Lincolnshire in 2008.
- There are 11,940 manufacturing companies in the region.
- From 1989 to 2008, total GVA from manufacturing increased 38%.
- In 2010, 298,000 people were employed in the manufacturing sector in Yorkshire and the Humber, which accounts for 12% of the total workforce.
Investments in manufacturing
- The Laser Cutting Company
Sheffield based the Laser Cutting Company Ltd is the only tubular laser cutting company in the region.
Thanks in part to a £25,000 investment from Finance Yorkshire the company added a new piece of equipment, which will be the only one of its kind in the UK. It will help Laser Cutting Company to double its capacity to cut tubes and sections, ensuring precision and accuracy during complex jobs.
A Leeds-based brewery equipment designer and manufacturer received a £500,000 investment from the Finance Yorkshire Equity Fund.
Microdat manufactures products such as cask and keg handling systems, in addition to providing spares, ongoing service and maintenance. The investment from Finance Yorkshire will help Microdat capitalise on a busy period of orders – and will ensure they can fulfil them.
- Senior Architectural Systems
Doncaster’s Senior Architectural Systems Ltd supplies a range of fenestration systems for fabricators, architects and contractors working on commercial building projects.
Thanks to a £100,000 business loan from Finance Yorkshire, the company, which already exports to Ireland and the US, is looking to expand further. The company is set to see turnover rise to £30m, resulting in more employment and further investment in the business.
Note: this case study is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire