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Loan launches feeding frenzy for local business

Published: 16th October 2006

Pictured from the left is Debbie Wilson, Mark Wilson, Peter Kersh, Jane Siddle and John Phillips.

A Doncaster company has developed a new brand of fish food– and is now planning to sell it worldwide, thanks to a £50,000 loan from the South Yorkshire Investment Fund (SYIF).

New Era Aquaculture Ltd has used the money to build a sales and marketing team for New Era Total Nutrition - a unique feeding system for marine coral fish.

Two new sales people have been appointed and a whole range of marketing activity has been used to launch the product, including the launch of a new website.

The company, based at Thorne sells a range of feeding products to public aquariums and to people who look after marine and tropical fish as a hobby. It recently moved to South Yorkshire, having been set up in Grimsby two years ago.

Peter Kersh, non-executive chairman of New Era Aquaculture, said: "This loan has been absolutely critical in getting the new product range off the ground. We have high growth potential worldwide and this money will hopefully help us to fulfil our growth plans."

Jane Siddle, Investment Manager, said: "We’re really pleased to be able to help such an innovative company that clearly has a very exciting future ahead of it."

The company was introduced to SYIF by John Phillips, of Mercia Corporate Finance, who now acts as company mentor.

New Era Aquaculture has also received help from the South Yorkshire International Trade Centre who are currently providing expert assistance in getting the product into overseas markets. 

Said SYITC international trade team manager Shaun Warren: "New Era Aquaculture is going from strength to strength. They are currently looking at the US market and we are looking forward to helping them once again when it comes to various overseas exhibitions they have planned later this year."

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 £17 million in 146 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.
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).