SYIF loan helps maintain strong growth of Sheffield manufacturing company: Antiquity GRP uses £100,000 loan to help fund factory refit.
Published: 30th March 2005
Left to Right. Andrew Chaffer, SYIF Investment Manager, Richard Dennison, Business Link Business Advisor, Darren Crookes, Antiquity GRP Managing Director, Tony McNeill, Company Manager of Antiquity GRP.
Sheffield-based Antiquity GRP Ltd is aiming to maintain 35% year on year growth (since 1999) with the help of a £100,000 loan from South Yorkshire Investment Fund.
The company, which manufactures fibre glass bay window roofs and dormer roof units for house builders and developers, has used the loan to help fund a £225,000 factory refit at its Douglas Road site in Sheffield.
Antiquity GRP Ltd, which employs 24 people, started as an arm of Antiquity Ltd and became a separate sister company in 1999 after steady growth saw the firm outgrow its old premises.
Darren Crookes, Managing Director of Antiquity GRP, said: "I’m very grateful for the loan which has helped us purchase essential new factory equipment including an up-to-date dust and fume extraction system.
"The company has seen massive growth and it is great to be able to maintain the momentum we’ve built up. I would like to thank South Yorkshire Investment Fund and also Business Link South Yorkshire for all their support."
Andrew Chaffer, Investment Manager, said: "It’s important that local businesses such as Antiquity GRP can fulfil their full growth potential. South Yorkshire Investment Fund is always looking for local businesses and business people who need a little extra to assist a promising and innovative business or proposal."
South Yorkshire Investment Fund offers a range of loan and equity linked investments, ranging from £15,000 to £2.5m, to help small and medium businesses bridge the funding gap that often hamstrings growing businesses.
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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.
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).