Fund opens the gates to finance for business
Finance Yorkshire has opened the gates to funding for a growing West Yorkshire business.
ABI Alert Security Systems Limited, based on Knowles Street in Bradford, manufactures and supplies high quality electric gates and security systems to both the commercial and private market.
The company has received a £30,000 business loan from Finance Yorkshire to help them fulfill a growing order book.
ABI Alert Security Systems was only established in March 2009, but has enjoyed huge growth and now employs ten people. The company manufactures bespoke products to the requirements of the customer, including gates, railings, bollards, rising arm barriers and access control systems to businesses across the Yorkshire area.
They were introduced to Finance Yorkshire by their accountant Stephen Crowther from Huddersfield-based SP Crowther & Co Ltd.
The funding from Finance Yorkshire will enable the business to take on an extra member of staff and purchase new equipment.
Stephen Pierce is managing director of ABI Alert Security Systems and has more than 40 years experience in the industry. He also runs ABI Garage Doors Limited and set up the security company after spotting a gap in the market.
He said: “We were receiving a lot of enquiries from businesses about security gates and we had to put them in touch with other suppliers. We decided to set-up our own company to meet this need and business has grown from strength to strength.
“During the last 18 months we have been very busy and the funding from Finance Yorkshire will be of great benefit in helping us meet the customer demand.
“At present we run the business from a small fabrication facility, but eventually we have plans to establish a showroom which will help showcase our products even further.”
Grahame Lunt, investment manager at Finance Yorkshire, added: “We are delighted to offer our support to ABI Alert Security Systems. They are a relatively young company but have enjoyed quick growth in a short period of time.
“The funding will enable them to not only fulfill their order book but help them take on more work, ensuring their development continues. It also establishes a relationship between Finance Yorkshire and the company which will enable us to monitor the progress of the business with a view to assisting them with their development plans if required.”
Helping a range of small and medium sized businesses to meet their funding requirements for growth and development, Finance Yorkshire provides seedcorn, loan and equity linked investments, ranging from £15,000 to £2m.
The project is supported financially by the European Union. It has attracted £30million investment from the European Regional Development Fund (ERDF) as part of Europe’s support for the region’s economic development through the Yorkshire and Humber ERDF Programme, £15million from Yorkshire Forward’s Single Programme, and £45million match funding from the European Investment Bank.
For more information about Finance Yorkshire, please visit www.finance-yorkshire.com or ring 0845 649 0000.
Note: this news article is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire