Preferred Management Solutions Ltd (PMS) is looking to create six jobs in the coming months, taking its headcount to 32, and is expecting to create a further 20 roles by 2018.
As a company, PMS currently manages around 500 projects every week and is using the funding to invest in an upgraded bespoke job management system.
The funding has been secured from NEL Fund Managers’ Finance For Business North East Growth Fund and will help the company fulfil both planned and emergency property repair contracts right across the UK.
Tony Morrison, operations director at PMS, said: "The key to our expansion is having the capacity to fulfil the additional requirements that larger contracts bring with them, within the timescales and with the degree of certainty that clients rightly demand.
"We've built up a strong reputation in our industry and already work for a roster of impressive names, and the investments we're making in further improving how we manage, monitor and deliver our services gives us the confidence and flexibility to take the business to the next level.
“The relationships we have across the industry are absolutely crucial when it comes to being considered for tender lists and contracts, and we're working hard to strengthen the direct links we have with insurance firms, larger property management businesses and other specifiers.
"We've already added to the team this year, and our expectations are that many more North East jobs will follow as our expansion plans are rolled out.
"The options offered by the Growth Fund fit well with our particular requirements, and the NEL team helped us crystallise our business planning around how we could best use it."
Founded in 2010, Preferred Management Solutions carries out emergency repairs on building and sites of all sizes through a growing roster of fully-vetted contractors who cover every trade.
The company also launched its own self-delivery service last year, and runs a PMS-liveried gas division.