£50,000 helps Steelcraft grow

£50,000 helps Steelcraft grow

Architectural metalwork specialist Steelcraft has secured a £50,000 loan enabling the company to secure 23 jobs and move forward with its growth plans.

Established in 1989, Steelcraft is a family-run company based in Chester-le-Street, County Durham. Primarily serving the North East, the business designs, manufactures and installs architectural metalwork including railings, gates, balustrade, stairs, balconies, and secondary steelwork.

In the past 18 months, the management team have embarked on a restructuring of the business including reducing cost bases, increasing efficiencies and have also started to expand their product range.

The funding was provided by the Finance for Business North East Microloan Fund.

Matthew Rodgers, commercial director at Steelcraft said: “The Microloan Fund has put us firmly on a path for growth, in particular by recruiting an additional draughtsman and updating CAD software to tackle more projects in less time.

“We have big plans to take advantage of a resurging construction sector as well as opportunities in other markets and we have now put the foundations in place to do so.”

James Holloway, investment executive at Rivers Capital said: “Steelcraft have a wealth of knowledge in this industry and they will use this to drive the business forward into its next phase of growth.

“A great example to other local businesses looking to raise finance to start-up or grow, I look forward to watching this company thrive.”

 

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