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Fund helps companies with second stage loans

Published: 8th March 2006

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Pictured at RC Jones’ (Motor Bodies) Ltd is (from the left) Alan Dodd, RC Jones’ Workshop Manager; Ashley Lund, Nat West Commercial; Neilson Jones, RC Jones’ Managing Director and Investment Manager from SYIF Clive Downward.

South Yorkshire Investment Fund (SYIF) has recently approved second loans for two businesses in the area - re-affirming SYIF’s long term commitment to the region.

K Maintenance Services Ltd (KMS), of Deepcar; and RC Jones (Motor Bodies) Ltd in Barnsley, have recently taken advantage of the facility to return for further loans.

Rotherham-based SYIF provide loans and equity linked investments ranging from £15k to £2.5m to businesses already in, or prepared to relocate to, South Yorkshire. The Fund has already invested over £17 million in 146 businesses – and now many are returning for more funding to develop further stages of their company’s growth.

KMS specialise in the maintenance of PC based devices, public consoles and display or touch screens. They have taken out a second loan for £50,000 to help the company grow.

Jean-Marc Nieznanski, Managing Director of KMS, said: "We have been able to carry on expanding the company at a level which wouldn’t have been possible without this second loan. It has helped our cash flow significantly and allowed us to grow significantly as a result."

RC Jones, have also taken out a £75,000 loan to transform the business into one of Britain’s most technologically advanced vehicle accident repair centres. Initially, SYIF invested £200,000 to refurbish their workshops and offices into state-of-the-art facilities.

Managing Director Neilson Jones, said: "We are continually looking to modernise the business for both staff and customers and this new loan will go a long way towards helping us expand the business."

Tony Goulbourn, Chief Executive of South Yorkshire Investment Fund Ltd, said: "We are so pleased that companies return to us to fund further stages of their development. Quite a few companies are now starting to return to us for further loans, after our initial loans helped them to grow."

"It’s great to do business with them again," added Tony, "And it is fantastic to see how they have gone from strength to strength over the years."

Anyone wanting information on loans available from SYIF should call 01709 386 377.

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).