SERVICING THE REGION
Expansion- pictured, left to right, at Steel Benders UK’ s new development, are Stuart Hodgson and Lesley Telford from FW Capital and Phil Anderson, Tania Cooper and Ashleigh Glass, from Steel Benders UK.
FUELLING GROWTH
Teesside Flexible Investment Fund driving economic growth across the Tees Valley
As regional expansion gains momentum, FW Capital is accelerating its mission to bridge the funding gap for Tees Valley ' s most ambitious SMEs.
It is driving funding in the region through the Teesside Flexible Investment Fund, which is managed alongside backing from the Teesside Pension Fund and provides a flexible alternative to traditional lending, unlocking the vital resources businesses need to drive economic growth.
The fund is designed for businesses that find traditional lending restrictive, offering a versatile range of support.
The impact of this support is already visible. Hartlepool-based Steel Benders UK Limited( SBUK) recently received funding support to assist a landmark development of new 40,000-sq ft industrial premises at the former Caparo and forge plant site on Brenda Road.
This sees the firm match significant external funding via the Teesside Flexible Investment Fund with its own substantial financial commitment.
SBUK is the largest steel bending company in the North-East and the new development will enable the steel profiling and forming specialists to relocate its operations from Middlesbrough and embark on an exciting new chapter of growth.
It will double the firm’ s capacity and create at least 15 new jobs for the local community. The development will create a modern office space and a base for the only 8x2m fibre laser cutting bed in the north of England, further increasing SBUK’ s capabilities and service offering.
Another great example is Paralloy Group, a Teesside-based stainless steel alloy specialist and the first to receive investment from the Teesside Flexible Investment Fund.
This backing has played a key role in Paralloy’ s next stage of growth, facilitating activities that are generating new jobs locally and delivering a significant impact on the Teesside economy while meeting the increased demands from industrial markets and advances in new technologies.
Joanne Whitfield, fund director at FW Capital, said:“ We have a strong track record of helping local businesses realise their growth ambitions and want to encourage firms across Tees Valley to speak to us about accessing finance and making the most of the funding we have available.
“ Whether supporting property development, financing contracts or enabling acquisitions, we can help. The Teesside Flexible Investment Fund sits alongside our wider portfolio, allowing us to provide flexible capital to support growth and innovation across the region.”
The Teesside Flexible Investment Fund is designed for businesses that find traditional lending restrictive, offering a versatile range of support:
• Loans from £ 100,000 to £ 2m for contract-related bonds, including advance payment guarantees, performance, warranty, highways and water authority bonds. Repayment terms are available of up to two years.
• Loans from £ 250,000 to £ 3m for residential and non-speculative commercial developments. Providing up to 100 % of build costs for suitable schemes with repayment terms available up to three years.
• Loans and equity investments from £ 250,000 to £ 3m for management teams seeking to own and run their own business. Investments are available for between one and seven years.
To find out how FW Capital can support your business, email info @ fwcapital. co. uk or visit fwcapital. co. uk
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