Loan helps Sheffield company to advance
Published: 2nd January 2007
A Sheffield company are ‘A-ok’ thanks to a loan from the South Yorkshire Investment Fund (SYIF)
A.I. Materials Ltd, based on Otter Street, have secured a loan of £55,000 from SYIF. The company is an international distributor of advanced industrial materials and is currently pursuing their mission to become the world’sleading supplier of Titanium and Alloy products.
The company’s stock range includes ingot, billet and bar in a variety of metals, especially Titanium, Alloy 286 / 660, and 718 grades, although AI Materials Ltd has made its reputation by being able to source scarce and hard to locate materials in any form, including Plate, Tube, Forged Flanges, Weld Necks and Rings or finish machined components.
The loan will be used to assist the company’s working capital requirements and to expand their product range, in particular to purchase and sell additional alloys.
Mark Burton, Managing Director of A.I Materials Ltd said: "We were introduced to the SYIF by Craig Cartlidge, Corporate Manager at Barclays Bank PLC and are very grateful for the investment."
"I would recommend the SYIF to any business looking for an injection of capital for a particular project or initiative. We are very grateful to them for providing us with a loan which has allowed us to expand our range."
Grahame Lunt, Investment Manager at SYIF, said: "We really pleased to be able to help such a determined company, who clearly have ambitions to become a world leader in their chosen field."
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 £26 million in 202 businesses.
For more information on how SYIF can help businesses, 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).