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Profile Autumn 2007 Newsletter

Barnsley Company Spreads the Word, Thanks to SYIF Loan

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Investment Manager, Karl Hodson

A Barnsley-based product design company is going to spread the word of the services it can provide, thanks to a £15,000 loan from South Yorkshire Investment Fund.

HJC Design Ltd, based at the Barnsley Business and Innovation Centre (BBIC) in Wilthorpe, is investing the money to promote the company profile and grow the client base through comprehensive marketing, advertising and a re-launched website. A portion of the loan will also be used to buy design software and as working capital.

HJC Design Ltd was set up in 2004 by Matthew Conley after he attended a business development programme at BBIC. Matthew, who provides creative and innovative design solutions for a range of industries including telecommunications, medical, safety and security sectors, can produce a complete product from the concept stage through to final production and delivery.

HJC Design's initial application for funding was rejected by SYIF as the business was still in the early stages of development. But, business mentor John Hall, took Matthew under his wing, helping HJC to grow and draw up the necessary business plans and 12 months later the application has been a success.

Matthew said: "John has been a good mentor to the business and I can always pull on his experience and knowledge. It is always difficult for a fairly new business to gain a loan, but thanks to John's help I've been successful in gaining this money from SYIF. The loan fills a critical funding gap for me."

John added: "I have worked with Matthew to look at his planning processes. He knows where he wants his business to be and he intends to get there. He has now put his marketing plans in place and, thanks to SYIF, can finance it."

Karl Hodson, SYIF Investment Director, said: "In addition to the investments, an important part of the SYIF process is our Money with Management programme which identifies and supports the cost of a mentor. In Matthews case we liased with mentor John Hall to identify the developments that needed to be made to HJC in order for it to return and be successful with a subsequent application for funding. The business will now benefit from subsidised mentoring in the next stages of its growth."

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).