Home > News & Events > February 2005 > News Article

£30,000 loan helps Sheffield technology firm establish foothold in United States.

Published: 10th February 2005

A Sheffield metals technology company is driving its U.S. sales with the help of a £30,000 loan from South Yorkshire Investment Fund.

Safe Technology Ltd, of Archer Road, Sheffield, designs software for forecasting the lifespan of metal parts and components. It’sIts systems and expertise are widely used in industries such as aerospace, automotive and the medical sector. Founded in 1987 by managing director John Draper, Safe Technology exports more than 80% of its products, mainly to the United States.

Mr Draper, who has a technical background in the aerospace and railway industries, said China was now the second largest market for his company which also exports to other parts of Asia and to several European countries, including France, Spain and Italy.

He said:"Our systems and technology play a crucial role in ensuring the safety of metal components in a range of industries and we have developed a world-wide market for them. This is the second investment in our company by SYIF who have been very supportive and helpful. They are good to deal with and understand the challenges facing a business such as this."

Allan Wood, Investment Manager, said:"Safe Technology is established as a leader in its field. Demand for its know-how is growing and by providing funding towards its penetration of the U.S. market, we are helping to ensure its continued success."

South Yorkshire Investment Fund can provide loan and equity linked linked investments, ranging from £15k to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for development.

South Yorkshire Investment Fund Ltd also administers and co-ordinates the provision of Microloans ranging from £1k to £15k on behalf of the Enterprise Agencies in South Yorkshire and provides access to Business Angel investments from the South Yorkshire Association of Business Angels.

Latest News

Editor's Notes

About South Yorkshire Investment Fund

South Yorkshire Investment Fund  provided seedcorn, loan and equity linked investments, ranging from £15k to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.

Created as part of the Objective 1 programme, the Fund is a private and public sector business finance provider. The European Regional Development Fund and Yorkshire Forward are investors in the Fund.

South Yorkshire Investment Fund also provided access to Business Angel investments from the Yorkshire Association of Business Angels and Microloans through BiG Business Loan Fund and Donbac Microloan Fund.

Finance Yorkshire has now taken on responsibility for providing gap finance in Yorkshire and the Humber.
http://www.finance-yorkshire.com

For further details please contact Suzanne Tinkler,  on 0845 649 0000.

South Yorkshire Investment Fund Ltd is a company limited by guarantee (Registered No 3936065). South Yorkshire Investment Fund comprises three sub funds, the South Yorkshire Investment Capital Fund, the South Yorkshire Investment Development Fund, which are each managed by YFM Venture Finance Limited, and the South Yorkshire Investment Small Business Fund, which is managed by Finance South Yorkshire Ltd. YFM Venture Finance Limited (Tel 0113 294 5000) and Finance South Yorkshire Ltd (Tel 01709 386 377) are each authorised and regulated by the Financial Services Authority. South Yorkshire Investment Fund also provides a number of services, which are not regulated by The Financial Services Authority. These include the pilot Seedcorn Fund, BiG Business Loan Fund, Mentorbank and access to the Donbac Microloan Fund. BiG Business Loan Fund is managed by Donbac Ltd (company registration No. 01925556) and Key Fund Yorkshire Ltd (Tel 0114 242 8900).