Senior Architectural Systems Ltd
Business Loans Case Study
Based in Denaby Main, Doncaster, Senior Architectural Systems Ltd supplies a range of fenestration systems for fabricators, architects and contractors working on commercial building projects.
Established in Bradford in 1991, Senior Architectural Systems moved to its Doncaster base in 2002 and currently also has factories in both South Wales and Scotland.
The company has supplied products and systems for buildings across the UK including the new Harrogate Grammar School, York University, the Grand Pier in Weston-Super-Mare and Holiday Inn Express in Sheffield.
Managing Director Lennart Jonsson said: “The market is very tight at the moment so cash flow is more of an issue for all sorts of businesses which means that our customers may not be able to pay us as promptly and that can have a knock-on effect.”
A £100,000 business loan from Finance Yorkshire, the company, which already exports to Ireland and the US, is helping the company expand further.
Lennart said: “We originally received help from Finance Yorkshire’s predecessor South Yorkshire Investment Fund (SYIF) in 2005. We later bought a glass factory in 2009 and they helped us once again then.
“Based on our experiences with SYIF, we knew that Finance Yorkshire would be just as easy to work with. They have been very quick in dealing with our application and vey straight forward.
“Equally they know us well as a company and so we benefit from that well-established relationship.
“We are using the funding to buy extra stock for the glass business and for general cash flow purposes.”
The Investment Rationale
Finance Yorkshire Portfolio Manager David Ward said: “Cash flow requirements are one of the main reasons why businesses encounter difficulties, which underlines the importance of Finance Yorkshire‘s role in assisting viable businesses with their growth and ambitions.
“We’re very pleased to have been able to develop further our relationship with Senior Architectural Systems.”
Lennart said: “Last year we had a turnover of £25 million but this year we should be closer to £30m, so looking ahead we’re hoping to employ more people and invest further in the business by developing new product lines.”
Note: this case study is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire