New premises for Doncaster computer business
Published: 26th June 2003
South Yorkshire Investment Fund provides £32,000 loan.
South Yorkshire Investment Fund is helping an established Doncaster computer business move to new premises.
C&C Computer Marketing has received a £32,000 unsecured loan, which has been used to buy new premises - a former ambulance station - which will be refurbished during the coming months.
Formed in 1992 by Paul and Michelle Carolan, the business employs five people and deals with the recovery, remanufacture, refurbishment and re-sale of computer equipment. Specialising in printers the business is now targeting the education sector.
Situated at Thorne Enterprise Park, Mr Carolan said the loan was vital to his business’s future plans.
He added: "South Yorkshire Investment Fund were extremely helpful and the move to new premises was secured thanks to the cash injection. We now hope to move the business forward into new areas."
The business was introduced to the Fund by Alan Scott from Business Link South Yorkshire.
Tony Goulbourn, Chief Executive of South Yorkshire Investment Fund, said: " We are always pleased when we help established businesses such as C&C Computer Marketing. They already have an excellent track record, but this additional funding will help take them forward.
"We welcome interest from new and established businesses, regardless of size and industry. Our aim is to bring more employment and prosperity to the South Yorkshire region."
The Fund provides development and risk capital ranging from £15k to £1m to businesses in, or prepared to relocate to, South Yorkshire.
It offers two key products, one of which is loans ranging from £15k to £150k with effective annual interest rates from as little as 3% per annum.
The second product is an equity-linked package, ranging from £50k to £1m where the Fund takes a minority stake in the business.
The equity-linked package, with its competitive fees, is designed for new or existing businesses with potential for rapid expansion. Investments can be made as a mix of ordinary and preference shares or subordinated loan stock.
A unique feature of the way the Fund can help businesses is the Mentorbank project, which provides subsidised mentoring support to help management teams grow the business more profitably.
The Fund’s products are designed to support businesses through critical stages of growth. From start through to major expansion, the fund will provide financial support. If a business is looking to start up, invest in new technology or equipment, enter new markets or locate into South Yorkshire it should call South Yorkshire Investment Fund first.
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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).