Telecoms firm VS Group reports growth surge after securing five-figure loan

Manchester-based VS Group has trebled in size after landing a £49.9k loan to expand its operations.

The firm, which provides telecommunications services for the voluntary and charity sectors, secured the funding earlier this year and has since created eight jobs at its Spinningfields base.

VS Group is now on track to hit a turnover of £1m by the end of its current trading year.

Director Kevin Penman, who established the company in 2012, said: “In a sector where every penny counts, any cost-saving that charities make can be saving or improving lives.

“Thanks to the loan from the Micro Fund we have been able to really expand our team in operations, telesales and engineering, enabling us to reach even more organisations with our unique savings and service.”

The five-figure loan came from the North West Fund for Micro Loans, which is managed by Business Finance Solutions (BFS), a community development finance institution, together with the Merseyside Special Investment Fund.

Earlier this week BFS, which is part of the Manchester Growth Company, celebrated hitting a new multi-million pound milestone as the delivery partner for the government’s Start Up Loan programme.

Mark Gibbons, a business loan manager with BFS, commented: “When they came to us for the loan Kevin and his team at VS Group had already achieved significant penetration into the charity communications market.

“By helping them to access the finance they need to grow we are investing, not only in a great business, but in a team of people who are passionate about helping others and the community.”

Mark continued: “VS Group is a great example of the exciting and innovative businesses we are working with who may not have been able to secure funding from traditional lenders but to whom between £25k and £49.9k can make an enormous difference to the future success and job creation.”

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