A small North Tyneside-based family business is ‘fixed for funding’ following a £25,000 investment from the Finance for Business North East Microloan Fund.
From their premises in Benton, Glass Tech Fixings provide an architectural glazing repair and installation service for commercial buildings in both the private and the public sector. The injection of funding, secured through Rivers Capital Partners, will finance a large new installation project with a key client and enable the company to grow substantially, taking on four new staff and safeguarding eight jobs in the North East.
Nikita Bazko, Fund Manager, praised the inspiring nature of the directors, remarking: “They have over 60 years of combined experience in the industry and have managed projects throughout the UK and internationally.
“Their experience, combined with their professionalism and key contacts in the field mean that Glass Tech Fixings is set to make a noticeable impression on the market in 2015”
The Microloan Fund’s objective is to help take businesses to the next level by removing the barriers to finance which can hold businesses back. Businesses from a wide variety of sectors can apply for a loan anywhere between £1,000 and £25,000, tailored to their individual business needs.
Helen Swann, Director at Glass Tech Fixings, commended the simple investment process at Rivers, saying: “The process was vigorous, as I would expect it to be but also straightforward in terms of explaining the requirements of what was needed at every stage.”
She continued, commenting: “I was surprised at the speed in which the application was turned around and funds transferred in to our account in a timely manner enabling us to start the project on time.
“We found Rivers to be professional yet approachable, and courteous at all times. Any queries I had during the process were dealt with extremely promptly and efficiently which helped greatly in driving the process forward to the successful conclusion.”
The Microloan Fund is a valuable source funding in the North East and can provide affordable credit for those with a bad credit history. The Fund differs from traditional lenders by focussing upon the quality of business models and not on the assets held by the company. As a result their approach means there’s an easy application process with a decision in two weeks. It’s fast and hassle-free, with professionals to talk you through every step of the way.
Read the full story in BQLive here.