FINANCE
Funding - Christine Hobbs of Wilton Engineering and Joanne Whitfield of FW Capital at the Wilton Engineering site .
LENDING A HAND
FW Capital can help with debt funding in uncertain times
The continued uncertainty around interest rates , energy costs and inflation means many businesses are heading cautiously into 2023 and will need to look beyond traditional funders for financial support .
High street lenders can be the first port of call but a lower appetite for lending outside their customer base limits this .
Companies need to find a lender that understands their business and provides a loan that fits their needs . A good lender will ensure you understand the terms of the loan agreement and will support you in more ways than just financially .
It will add value to your business – providing access to networks and expertise , acting as a partner and working with you to review the progress of your business as it grows .
Building a relationship with a lender who knows your business inside out is critical , says FW Capital . It may take more time , but it will ensure you receive support along the way , no matter what the future throws at you .
FW Capital manages a number of funds that can support your business . Its funding is designed to drive innovation and growth across a broad range of sectors , from digital and software to manufacturing and construction .
NPIF – FW Capital Debt Finance , managed by FW Capital and part of the Northern Powerhouse Investment Fund , offers loans of £ 100,000 to £ 750,000 to businesses across the Tees Valley .
FW Capital provides a highly personal level of service to businesses looking for funding for a variety of purposes ,
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including purchasing new machinery or IT equipment , investing to transition towards net zero , diversifying into new markets , launching new products or increasing your workforce .
FW Capital also manages the £ 10m Tees Valley Catalyst Fund on behalf of Tees Valley Business , the local growth hub for the Tees Valley and part of the Tees Valley Combined Authority .
This fund helps ambitious businesses bid for new contracts by providing short-term loans of between £ 100,000 and £ 2m .
It provides loans for performance and warranty bonds and advance payment guarantees , which provide a financial guarantee to a client that a supplier will deliver on time and to standard .
This fund ends to new applications in March 2023 , so now is a great time to get in touch with FW Capital and see if it can help your business secure an upcoming contract .
Funding is also available with the backing of the Recovery Loan Scheme , a government-backed initiative set up to help SMEs access business loans to aid recovery .
Fixed-rate finance is also an important consideration during the current challenging period . FW Capital ’ s rates are always fixed , giving you the certainty you need to help your business grow .
Even if the base rate continues to rise , your monthly repayment will remain the same . Pricing for a loan is calculated on a case-by-case basis , taking into account
For further information please email info @ fwcapital . co . uk or visit fwcapital . co . uk all elements of the investment into your business .
North-East Fund director Joanne Whitfield is keen to highlight that support is available .
“ There is a strong appetite for growth across the region , and we are here to talk to local businesses about their future and see where we can help ,” she said .
“ The recent market challenges may cause uncertainty and inhibit business confidence , but our Billingham-based team are passionate about supporting businesses in the region and helping them through these difficult times .”
One business that has benefited from funding from NPIF – FW Capital Debt Finance is Teesside-based Wilton Engineering , which has recently secured projects worth £ 20m .
The new contracts secured , along with the future Offshore Floating Wind projects , provide Wilton with the foundations for more sustainable business planning and investment , and the business has also increased its workforce 120 per cent in the last 12 months .
Wilton Engineering ’ s finance director Christine Stobbs said : “ The last few years have been particularly challenging . FW Capital have been incredibly supportive in this time and have really believed in the vision we have for the business .
“ Their funding has been invaluable and has made a big difference to our growth and success .”