South-Tyneside-based automotive company JLS Automotive has secured a £20,000 loan through the Finance for Business North East Microloan Fund, a regional loan scheme run by Rivers Capital Partners helping small businesses fund their big ideas.
JLS Automotive is run by mechanic, John L Simpson, who aims to provide a professional service converting and upgrading car engines. John has a career spanning 30 years as a vehicle technician and now specialises in Liquefied Petroleum Gas (LPG) conversion, making his experience invaluable.
John used the loan to start up his garage in Jarrow, now fully equipped to provide a premium service. He can modify car performance, fuel efficiency and reduce carbon emissions. This involves changing default settings in order to improve performance, whether it is to reduce emissions or increase engine power. His speciality is LPG engine conversion, enabling cars that run on petrol or diesel, to run on LPG. It makes for a smoother drive and halves fuel prices while significantly reducing carbon emissions.
John's automotive company also provides a hydrogen water injection installation service that reduces emissions by up to 80%, increases engine power by 30% and decreases fuel prices by up to 30%. Hydrogen injectors can increase the engine life by an extra 2-5 years.
John gives fleet discount to businesses that want to have their fleet of vehicles upgraded. It can save businesses a lot of money in the long run and increase the vehicle lifespan.
Rivers Capital Partners Fund Manager Nikita said, "I think John has a strong future with this company. His services combat emissions and save money; both of which are important to people. I believe his experience and attention to detail will gain him a good reputation and strong customer base."
Commenting on the Microloan process John said "It was simple and easy. From the very start through to the end."
The Microloan Fund is run by Rivers Capital Partners, offering businesses small loans between £1,000 and £25,000. The aim is to help these businesses to expand their operations within the region, to boost the local economy. Rivers Capital Partners base their decisions on the quality of the business, rather than their assets. Successful applicants can receive the loan, on average, in just two weeks. Rivers Capital Partners have helped create over 440 jobs in the region and safeguarded over 660 jobs since 2011, making a positive impact in the region.