News

A nutritional health and sports performance drinks brand has secured £300,000 from the East of England Regional Loan Scheme to support the growth of the business. 

Kings Lynn based Amino, have created a range of powdered nutrition drinks that combine amino acids with scientifically backed ingredients to enhance human health & performance. The product range target particular use cases like pre and during workout, with products that improve sleep & hydration in the pipeline. All of the Amino range is plant-based, zero sugar, low calorie with no artificials colours or flavours and all ingredients are responsibly sourced and produced. 

The funding will be used for sales and marketing and to expand the operations and fulfilment departments, with the recruitment of additional staff as the business continues to grow its online presence.  

Launched in 2019, Amino Drinks formula is the brainchild of Simon Carty, an ex-athlete who studied Exercise Physiology and Biochemistry at Loughborough University.  

Simon Carty, CEO at Amino Drinks, said: “Our mission is to positively influence long-term health and we do this through our smart combinations of different amino acids, which allow our customers to target specific goals for both their mind and body. Amino acids are hugely beneficial not only to enhance workout performance, but they also promote recovery and healing to lots of the body's fundamental systems. The funding comes at an exciting time for the business as we are expanding our warehouse facility to ensure we have enough space for additional stock to facilitate the increase in our order book.” 

Simon Elliott, Investment Manager at The FSE Group, which manages the loan scheme, added: “The global fitness and wellness market is rapidly expanding and with a highly innovative product Amino are well placed to develop their client base. Simon and his team have spent countless hours researching and developing their products to enhance the end results for their customer base. With this they go to market with a unique offering, and we are delighted to be supporting them and wish them all the success for the future.” 

The Regional Growth Loan Scheme (RGLS) is managed by The FSE Group on behalf of Local Enterprise Partnerships in the East of England. Loans between £50,000 and £500,000 are available to established incorporated businesses based within the East of England that have a minimum annual turnover of £100,000. The funding can be used for a range of growth activities as well as to service short to medium-term trade and contract finance requirements. The scheme aims to stimulate job creation and economic prosperity and supports SMEs that have the potential to deliver high-growth and employment opportunities across the East of England region. 

A design and manufacturing company producing sustainable furniture for work, education and social spaces has received a £200,000 loan from the Cornwall and Isles of Scilly Investment Fund, managed by The FSE Group.

Hart Miller Design will use the funds to support the growth of its MARK (Made and Realised in Kernow) Product brand – furniture ranges designed for informal work settings and learning environments that are manufactured in keeping with the company’s sustainability driven ethos.

This Cornish company is well known in the contract furniture industry, with MARK furniture being used in the offices of multinational corporates including the BBC, EY, Fujitsu and Arsenal FC. A key selling point is Hart Miller’s industry-leading, independently assessed “Do Net Good” strategy that they spent three years developing and refining into the robust manufacturing and operating model that defines the business today. The company is also working towards B Corp certification in 2023.

Demand for MARK products is also being driven by changes to workspaces as they evolve to fit the post-covid hybrid model where working from home tends to be for concentration and focus, whilst working from the office is often about collaborative spaces that build brand culture.

Anna Hart, Co-founder of Hart Miller Design, said: “As more large companies seek ethical and sustainable transparency from their suppliers, we are seeing increased demand for our high-quality designs. Our new Otto laptop table received significant pre-orders so building capacity to ensure delivery is central to our growth strategy. It can be difficult to obtain funding based on future sales so we are delighted to have secured this CIOSIF loan, which allows us to increase resources and provides working capital to support new contract wins.”

Tim Williams, Investment Manager at The FSE Group, added: “This is a resilient business that has overcome the considerable challenges posed by covid, built a track record for quality and reliability and developed a pipeline of innovative products to meet changing market demand. It is now in a strong position to take advantage of a recovering sector that is increasingly seeking high-calibre products with genuine sustainability credentials.”

The £40m Cornwall & Isles of Scilly Investment Fund provides debt and equity finance from £25,000 to £2 million to help growing small businesses across the region. It has been established by the British Business Bank in partnership with the Cornwall and Isles of Scilly Local Enterprise Partnership (LEP).

Paul Jones, Senior Investment Manager  from the British Business Bank said: “Sustainable growth is part of our core mission and Hart Miller Design is an exemplar business which has embraced the concept of a circular economy and put it into practice. I’m delighted that this CIOSIF loan will further those objectives.”

John Acornley, Chair of the CIOSIF advisory board and former LEP non-executive director, said: “With this CIOSIF investment Hart Miller Design has the team, space, suppliers and experience that puts the company on a trajectory to fulfil its potential as a leading UK provider of contract furniture.”

CIOSIF is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020.

For more information about the Cornwall & Isles of Scilly Investment Fund including how to apply, please visit www.ciosif.co.uk  or follow the fund on Twitter at @CIOSIFBBB2

A thriving Wolverhampton based edtech business that has doubled turnover year-on-year to date, has secured a £450,000 investment from the Midlands Engine Investment Fund (MEIF), provided by The FSE Group Debt Finance Fund and backed by the Recovery Loan Scheme.

School of Coding delivers both online and in-person science and coding education to children, adults, and teachers. The company provides thousands of lessons per month to its students through their bespoke, in-house e-learning platform and education centres in Wolverhampton, Shropshire, Telford & Wrekin and the Black Country. The company also has partnered with a number of universities, schools and colleges thereby making its platform available to a wide range of interested users across the UK. 

The MEIF funding will be used to underpin its growth strategy, simultaneously creating 23 new jobs to support the growth of the business.

With the closure of schools and tuition centres when the pandemic hit in 2020, School of Coding CEO and founder, Manny Athwal, took a novel approach to pivoting his business towards offering e- learning options by providing free online coding training to hundreds of families across the UK. This has since earned the company a significant upturn in student numbers, resulting in consistent growth throughout the pandemic and post-pandemic period.

Manny said: “We are delighted to be working with FSE to aid our growth potential – with the MEIF funding in place, we are expecting to double our turnover again by increasing activity across all our services, particularly furthering the roll-out of our e-learning platform to schools.”

Ryan Cartwright, Investment Manager at The FSE Group, commented: “Despite a difficult economic landscape, Manny and his team continue to grow School of Coding and create jobs here in the West Midlands & Shropshire region. With a number of revenue streams across both online and in-person coding classes , the company has multiple avenues for expansion and we look forward to helping them achieve their growth potential.”

As coding becomes a more integral part of the school curriculum, education providers will be seeking tools to support their teaching and School of Coding is well-positioned to deliver on this. 

Mark Wilcockson, Senior Investment Manager at the British Business Bank, said: “This investment from the MEIF will allow School of Coding to expand the business while creating new jobs in the region. The MEIF backs businesses with growth potential that can have a positive impact on the economy in the region and this investment is a perfect example to showcase the MEIF’s commitment to supporting innovative growing businesses in the Midlands.”   

The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2022 and the European Investment Bank. The FSE Group manages a section of MEIF that provides investments between £100,000 and £1.5 million to support growing SMEs across the region. For more information visit: www.thefsegroup.com/fund/midlands-engine-investment-fund-debt-finance.

A West Yorkshire cleaning product manufacturer which supplies the hospitality and leisure sectors has secured £175,000 investment from Finance Yorkshire.

The Proton Group was established more than 50 years ago and specialises in cleaning products for the hospitality sector. Known for innovation they work closely with many of the UK brewers and have unique product and educational offerings.

The Proton Group employs more than 25 people at its manufacturing plant which includes warehousing and distribution facilities. The business is targeting £5m turnover this year.

Managing Director Murray Angus says the investment from Finance Yorkshire’s Business Loans Fund will support the company’s growth strategy as it develops new, innovative products which are more environmentally friendly.

He said: “The investment gives us a cash boost to invest in our plant and equipment while also working on new products for our customers. Innovation is important to us, and we have just seen the launch of a new specialist product range that will be used by technicians within the trade, aimed at saving money and time for the brewers.

“We have a focus on sustainability and currently pursuing how we can support this both with alternative packaging solutions and less harmful chemicals.”

Alex McWhirter, chief executive of Finance Yorkshire, said: “The Proton Group is a well- established Yorkshire business with a strong track record of innovation and product development which has been integral to its success over the last five decades.

“We are pleased to support the company as it continues to innovate and win new contracts in its target markets.”

News article written by Finance Yorkshire

The British Business Bank will today (July 6) launch the £200m South West Investment Fund aimed at fostering growth and prosperity for small businesses across the South West of England.

The South West Investment Fund (SWIF) will provide much-needed funding to small and medium sized businesses across the whole South West region, covering Bristol, Cornwall and the Isles of Scilly, Devon, Dorset, Gloucestershire, Somerset, and Wiltshire.

The fund will increase the supply and diversity of early-stage finance for new and growing smaller businesses for various purposes, such as expansion, product or service innovation, and new processes, skills or capital equipment. It will offer a range of commercial finance options with loans from £25,000 to £2 million and equity investment up to £5 million.

SWIF is the first in a series of six new Nations and Regions Investment Funds being launched by the British Business Bank, the government-owned business development bank. A total of £1.6 billion has been committed to the new funds to drive sustainable economic growth, which was first announced by the government in the 2021 Spending Review.

Chief Secretary to the Treasury, The Rt Hon John Glen MP and Member of Parliament for Salisbury said: “The South West is home to some of the most creative, innovative and exciting businesses this country has to offer. This fund will deliver vital investment to nourish that potential, building on over £300 million of levelling up funding to grow the local economy and create well-paid jobs across the region.” 

Louis Taylor, Chief Executive of the British Business Bank, added: "The launch of the South West Investment Fund marks an important milestone in our mission to support business growth across the UK. By identifying and addressing funding gaps in the South West, we aim to empower local businesses and unlock their true potential. This initiative will play a crucial role in catalysing economic growth, creating jobs, and fostering innovation in the region."

The £200m fund has been warmly welcomed by South West business leaders.

Phil Smith, Managing Director of Business West, part of South West Chambers of Commerce which represents businesses throughout the region, said: “Small businesses across the South West tell us there is a real need for more supply and diversity of early-stage finance and this new fund from the British Business Bank will be welcomed because it breaks down barriers and creates more opportunities for growth and innovation."

Katherine Bennett CBE, Chair of the Western Gateway Partnership, said: “It’s great to see this new fund launched from the British Business Bank. We believe that by working together we have the potential to become the UK’s Green Energy Powerhouse – creating solutions to ensure we can reach net zero and take advantage of the economic opportunities that will come from the green transition. Access to early finance will be crucial for this and I look forward to continuing our work with the Great South West partnership, British Business Bank and other partners to ensure the region's businesses have the support to grow and prosper."

Paul Coles, Chief Executive of the South West Business Council, said: “This fund will provide much-needed investment in the region’s businesses, enabling them to thrive, expand, and contribute to the economic prosperity of the South West. We are confident it will drive sustainable economic growth and job creation.”

SWIF will be managed by a team of four fund managers that have been appointed by the British Business Bank including SWIG Finance, FW Capital, Maven and The FSE Group.

SWIG Finance will manage the smaller loans part of the fund, from £25,000 to £100,000, for the whole South West. FW Capital and Maven will manage the debt (£100k to £2m) and equity (up to £5m) funds respectively for the north of the region. The FSE Group will manage both debt and equity for the South of the region.

Applications for funding are made directly to the relevant fund managers who can be contacted via the SWIF website www.southwestinvestmentfund.co.uk

Following today’s official launch in Bristol, the British Business Bank will be holding a roadshow for small business finance intermediaries across the region next week to provide more information about the fund. Destinations include Bristol (7 July); St Austell (11 July); Exeter (12 July); Bournemouth (13 July) and Swindon (13 July).