Grey Wolf Scaffolding, a scaffolding service company based in Lincolnshire, has secured over £14,000 funding from First Enterprise – Enterprise Loans, under the British Business Bank’s Start Up Loans programme, to increase its stocks and further grow the business into 2024 and beyond.
Grey Wolf Scaffolding offers comprehensive scaffold erection services for commercial and domestic clients, including new builds, solar and roof repairs with a guarantee of efficient and high-quality solutions delivered on schedule.
With 21 years of experience in advanced scaffolding projects, including seven years in scaffolding management, Founder and Director James Brown decided to start his own business with the aim to implement innovative new approaches and work processes.
The funding from First Enterprise – Enterprise Loans has been used entirely to increase stock, which enabled the business to erect multiple scaffolds simultaneously, including larger ones that will yield a potentially higher profit margin.
First Enterprise – Enterprise Loans provides government-backed business loans ranging from £500 – £250,000 for start-ups and SMEs that are unable to borrow from traditional high-street lenders. The not-for-profit organisation reinvests any surplus into loan funds to further support economic growth and job creation in the local communities.
James Brown, Founder of Grey Wolf Scaffolding, comments:
“Initially, we struggled to meet high demand with limited materials. The funding from First Enterprise – Enterprise Loans then enabled us to purchase more stock at a time, leading to more contracts being signed and profits increasing.
“Simon, our advisor, provided invaluable guidance through planning and underwriting. When it came to liaising with the underwriters, Simon consistently provided advice on the necessary steps and what they would require. The whole team’s considerate approach made it a pleasurable experience.”
Simon Mitchell, Investment Manager at First Enterprise – Enterprise Loans, comments:
“Working with James to understand his requirements, and how the funding would drive growth from an existing pool of demand was a pleasure. He came across as ambitious for both his business and his family with a well thought out plan that had considered multiple risks and opportunities.
“I am sure his scaffolding business will go on to reach the lofty heights he plans on achieving and I look forward to seeing how he will press on in the coming months.”
Start Up Loans, part of the British Business Bank, has recently announced Enterprise Loans East Midlands (ELEM) as the new regional Business Support Partner (BSPs) for the scheme.
Richard Bearman, Managing Director of Small Business Lending, British Business Bank commented:
“Businesses such as Grey Wolf Scaffolding play a huge part in the UK economy, supporting the creation of local jobs and generating difficulties in securing funding from mainstream sources.
“I look forward to seeing how James will use this funding to grow their portfolio of clients and take the business further than ever before.’
Link to original article https://www.lovebusinesseastmidlands.com/love-business-news/2023/11/27/more-contracts-on-the-horizon-as-lincolnshire-based-scaffolding-company-secures-over-14-000-funding/
https://www.insidermedia.com/news/midlands/five-figure-funding-for-scaffolding-company
More contracts on the horizon as Lincolnshire-based scaffolding company secures over £14,000 funding
