Finance For Enterprise supports the launch of a DIY business | Yorkshire Business News
A recently established DIY store has reported a strong start to business after receiving support from alternative lending provider Finance For Enterprise.
Sales expert Richard Chapman and experienced locksmith Mike Skinn have worked side by side for over 12 years. When the owner of the company they worked for announced his intention to retire, the duo began to explore the possibility of acquiring the company. However, they couldn’t get along and, after seeking advice, they decided to start a new business from scratch.
When they discovered that a unit at the Kennedy Way shopping center in Immingham was available, they decided to put their plans into action.
Working with experienced business loan manager Jane Cusse, the duo successfully secured funding for a start-up loan.
Since its opening, Immingham Hardware has attracted between 60 and 100 visitors each day.
Richard Chapman said: “We knew the combination of a traditional DIY store and locksmith services was a winning formula, and when we scouted suitable premises to run the business, we thought this would be the perfect fit. perfect opportunity to put our plans into practice.We spent quite a bit of time planning and exploring a number of different scenarios, possibly including acquiring an existing business or starting a new business from scratch .
“However, no matter what avenue we explored, we realized that additional funding would be required and we knew that without any prior experience of running a business it would likely be difficult to secure. We were introduced to Finance For Enterprise by a business advisor; Jane listened to our ideas and helped us secure the vital financing we needed.”
Jane Cusse, Head of Business Loans at Finance For Enterprise, added: “Companies operating in the retail sector typically need to invest significant sums to secure the stock their business needs, as well as to equip new In many cases it can be difficult to get financing from traditional lenders, but they spent time working with Paul Slade at Efactor to discuss and develop their plans and he suggested that Finance For Enterprise could help them. help them access the funding they needed.
“The Startup Loan Program was created specifically to help new entrepreneurs, and although Richard and Mike’s business is new, they are no strangers to the industry they work in. They have developed a business plan. “Strong business to support their application. I am confident that their business has an exciting future ahead of it.”