Hartlepool construction company builds up future prospects with £160k loan
A Teesside construction company has announced that it has secured a £160k loan to ramp its operations back up following the impact of coronavirus.
Brickwork Services, based in Hartlepool, has secured a £160k loan from NPIF - FW Capital Debt Finance, backed by CBILS and part of the Northern Powerhouse Investment Fund.
The company provides bricklaying and building services to home builders across the region, securing a turnover of £3.4m last year.
As demand returns to the market, the loan will enable Brickwork Services to scale its operations back up, safeguarding the jobs of its 17 full-time employees.
Alexandra Gent, investment executive at FW Capital, commented: “Brickwork Services was proactive in adapting its working practices to deal with the constraints imposed by Covid-19, which has left it on a positive footing.
“We are delighted to have been able to assist the business as it delivers an exciting pipeline of work, supporting much-needed additional housing across the North East.”
The deal was introduced to FW Capital by James Clinghan at Trusted Business Partner.
James said: “Steve and his team at Brickwork Services are a really solid operation, the company is well run with an experienced management team but, sadly, it’s a business that fell through the gaps with a number of high street lenders in the current climate.
“We engaged with Alex and the team at FW Capital as well as James Dale and his team at Anderson Barrowcliff and we all worked closely through every section of the application to come out with a better overall solution that we originally hoped for.
“This will safeguard the business’s medium and long-term future and see many more apprentices get their start in industry.”
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