Member Article

Steelcraft safeguards 23 Durham jobs

North East metalwork company Steelcraft has safeguarded 23 jobs at its Durham base, following a £50k loan from the Finance for Business North East Microloan Fund.

Established in 1989, the family-run firm designs, manufactures and installs architectural metalwork including railings, gates, balustrade, stairs, balconies, and secondary steelwork.

In the past 18 months, the management team have embarked on a restructuring of the business including reducing cost bases, increasing efficiencies and have also started to expand their product range.

Matthew Rodgers, Commercial Director at Steelcraft, commented on the importance of the fund to the firm’s future.

He explained: “The Microloan Fund has put us firmly on a path for growth, in particular by recruiting an additional draughtsman and updating CAD software to tackle more projects in less time.

“We have big plans to take advantage of a resurgent construction sector as well as opportunities in other markets and we have now put the foundations in place to do so.”

James Holloway, Investment Executive at Rivers Capital, which manages the Microloan Fund, said: “Steelcraft have a wealth of knowledge in this industry and they will use this to drive the business forward into its next phase of growth.

“A great example to other local businesses looking to raise finance to start-up or grow, I look forward to watching this company thrive.”