Lancing-based BCMY Ltd is one of the UK’s leading recycling businesses for used printer cartridges and mobile phones.
The funding will help the company acquire the freehold of a new site and enable it to relocate its operations to another facility in Littlehampton.
This will create 25 new jobs over a five -year period, nearly doubling its current workforce of 17 people in West Sussex.
Simon Gilchrist, founding director of BCMY, said: “Without this funding we would be unable to expand our operation and meet the future demand for our recycling service.
“There is a growing market for this type of service since new legislative changes came into place in January for printer cartridge and distributors and this has presented us with a significant opportunity grow our business, but the challenge has always been to secure a freehold site so that do not have to rely on renewing landlord lease agreements.”
The Coast to Capital Growing Places Loan Fund is available for projects that are ready to go forward and in the short-term will create or unlock job creation but that have stalled due to the lack of investment from other sources.
To find out more about the Growing Places Fund and to see if your business is eligible for funding, contact Paul Castle on 01403 333845.