Sheffield company to move to new premises with the help of a SYIF Loan
Published: 9th June 2006
Pictured from the left are Grahame Lunt, SYIF Investment Manager; Managing Director of Interior Surfaces Ltd, Arthur McKenzie and mentor Derek Nice.
A Sheffield company has expanded its work surface manufacturing and supply business thanks to a £50,000 loan from South Yorkshire Investment Fund (SYIF).
Interior Surfaces Ltd, based off Penistone Road, produce a range of work surfaces and washroom systems, including laboratory benching and servery counter-tops, for commercial and domestic customers. Customers include schools, hospitals, supermarkets, retail chains and the general public.
The loan, which was part of a package of funding, helped the company to move to new modern premises and purchase hi-tech machinery to enhance production. Four new jobs have been created and the company’s showroom improved.
Interior Surfaces Sales Manager, Zoe Dickinson, said: “We had a management restructure five-years ago and turnover has doubled in that time.
"The restriction of the old premises reduced the capability of producing and competing for larger scale projects. This funding facilitated faster production turnaround for the customers and provides an opportunity for staff skills development."
Staff are now settled into their new premises and Interior Surfaces are currently negotiating a large contract to supply goods to a school. The company is also negotiating a possible long-term retail chain contract which may result in expanding its workforce even further.
Zoe said: "The loan has really changed things for Interior Surfaces. The new location is good for us because it is close to our old site and the retail showroom is perpetually busy."
As the company goes from strength to strength it also uses the management experience of mentor, Derek Nice.
Grahame Lunt, Investment Manager at SYIF, said: "Interior Surfaces clearly have the expertise to make the company grow and we are really pleased to be working with them."
For more information on how SYIF can help you, please go to www.syif.com or call 01709 386 377
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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).