SYIF provides Boost for Sheffield Distribution Company
Published: 24th November 2005
South Yorkshire Investment Fund provides £50,000 loan to UK Power Inverters.
A Sheffield firm that supplies electrical inverters to UK industries and wholesalers has been given a welcome boost with a £50,000 loan from South Yorkshire Investment Fund.
Recently formed UK Power Inverters Ltd, based at Maltravers Road, sells and distributes specialist inverters used to control motors for a range of electrical products. The loan will be used to maintain the company’s successful start as high demand is now stretching resources.
Matthew Daws, UK Power Inverters Managing Director, said: "We heard about South Yorkshire Investment Fund on the business grape vine, we were particularly interested in the Fund’s mentoring service.
"The loan is invaluable to us in terms of maintaining our momentum and buying the stock we need to meet the demands of our customers. There are only three of us for now but the way things are going that could change in the future."
Jane Siddle, Investment Manager, said: "It’s important that local businesses such as UK Power Inverters can fulfil their full growth potential. South Yorkshire Investment Fund is always looking for local businesses who need to finance a promising and innovative business 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).