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Building for the future with SYIF

Published: 14th May 2009

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Left to right: John Capper, managing director at Oakworth Homes and Andy Chaffer, business director at SYIF

A leading timber frame construction company is defying the credit-crunch by employing new staff and expanding the business into new areas.

Oakworth Homes specialise in the design, construction and completion of timber framed houses for both property developers and people looking to self-build a home.

Despite the negative impact the recession has had on the housing market, Oakworth Homes is going from strength to strength, having recently received a £50,000 loan from South Yorkshire Investment Fund. (SYIF)

The money has enabled the Beighton-based company to employ additional members of staff and move into new market areas such as engineered floor systems, which can be used in a wide variety of construction applications outside of the timber frame construction sector.

John Capper, managing director at Oakworth Homes, said: “The money from SYIF has given us a real boost. We’re now able to provide our customers with engineered floor systems, which means we can look to supply in to new sectors of the construction market.

“The investment has also allowed us to employ additional members of staff and as a result, we are currently preparing to relocate to new, bigger premises at Handsworth, to accommodate our growth.

“Oakworth Homes provides a complete Timber Frame solution for people who are either planning a self-build or develop property for a living.

“We pride ourselves on delivering an all round service which includes everything from the architectural design and planning, through to the actual construction of the building – we can help our clients find the ideal plot for their property and ensure that they get their dream home.”

“SYIF have been excellent. They’ve been really supportive and helpful in understanding the needs of our business.

“Thanks to their funding we can look forward to a bright future as the business expands and turnover increases.”

Andy Chaffer, business director at SYIF, said: “Oakworth Homes really are bucking the trend. The construction and property sectors have been hit hard by the economic downturn, so it’s fantastic to see a local company flourishing despite the difficult climate.

“We look forward to watching Oakworth Homes’ success continue for many years to come.”

SYIF can provide 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.

For more information about South Yorkshire Investment Fund, please visit www.syif.com or ring 01709 386377.

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).