Member Article

Westerhope mechanics land £25k microloan to launch new garage

Newcastle-based Westerhope Brake & Clutch Services has opened a new garage, following a £25k microloan from the Finance for Business North East Microloan Fund.

The microloan has enabled the business to expand and open a new, fully-equipped garage in Crispin Court, Westerhope.

Established in 2010 by Martin Frankland, the business was founded with a vision to target the types of repairs that were not being serviced in the industrial sector in Westerhope and surrounding areas.

Martin will be keeping his original premises to do bigger jobs such as welding and engine repairs. In his new premises the business will have the space to keep a large stock of tyres so customers can benefit from same-day tyre fitting.

Starting with only a small selection of hand tools Martin has grown from a small, one-man garage to a team of full-time expert mechanics.

Martin said: “The application process was fairly straight forward. James and Nikita were both very helpful and knowledgable.”

James Holloway, Rivers Capital Partners Investment Executive, said: “Martin is running an admirable business, and knows exactly how to make it a success. The Microloan Fund exists to support businesses like his, and we are proud to help him with his expansion plans.”

The Microloan Fund offers loans of £1,000-£25,000 to small businesses that are unable to receive financial backing from mainstream lenders. Rivers Capital Partners base their decisions on the quality of the business rather than its assets.