A range of options are available to businesses through Business Finance Solutions, including the Northern Powerhouse Investment Fund.
Business Finance Solutions (BFS) was established in 2002 with a brief to provide a professional and service-focused alternative business finance option for businesses that have been unable to obtain funding through mainstream lenders.
Over the years, the company has continued to grow and develop its finance offering and has now lent more than £230m to 17,000 businesses across the UK through a variety of funds, helping close the “finance gap” and helping businesses to access the finance they need to start and grow.
One of these businesses is Clitheroe-based door hardware manufacturer Loxta Hardware, which secured a £50,000 investment from BFS through the £10m Northern Powerhouse Investment Fund (NPIF) which is jointly managed by BFS and the MSIF Microfinance fund.
In response to increasing demand from its trade customers, which include interior designers, architects and ironmongers, Loxta will use the loan to design and manufacture high quality architectural ironmongery and door hardware across its seven product ranges, purchase additional stock and to bring new products to market.
Loxta is also spearheading the company’s entrance into the export market in 2018, focusing on the European and Middle Eastern markets.
Andy Nichols, a senior loan manager at BFS, said: “Shaun and his team at Loxta have created a great British company that is proudly designing, manufacturing and distributing all of their own products.
“They came to us with a strong plan for growth, anchored to an ambitious brand extension, which we were very happy to support with funding from the NPIF and, as a result, Loxta is already well on the way to establishing a new standard of product and engineering within this market.”
And it’s not just manufacturers BFS supports either; the company provides financial support to businesses from an array of sectors for all kinds of investment needs. It provides anywhere from £500 through to £500,000, which includes Start Up Loans and business growth loans.
It also works with many high growth businesses to raise early stage equity of up to £2m through its Co Angel Investment Service.
As the finance arm of The Growth Company and supported by the Greater Manchester Combined Authority and Greater Manchester Local Enterprise Partnership, BFS continues to work with thousands of ambitious businesses across the North West to help them to grow, thrive and create jobs.
To find out more about how BFS could help your business secure the finance and support you need, contact the team on 0161 245 4977 or email firstname.lastname@example.org