Leicestershire manufacturer lands £110,000 bank deal

Leicestershire-based manufacturing business Clan Innovations has purchased a precision cutting machine after securing a £110,000 Flexible Business Loan from HSBC.

Clan Innovations will use the new Computing Numerical Control (CNC) machine to control carpentry tools via computing technology, enabling the precision cutting necessary to create complex shapes and objects for the point of sale displays it manufactures.

The new machine, an SCM Pratis CNC Router, is the first of its type in the UK and is set to save the business around £80,000 during the first year by allowing Clan Innovations to do all its precision cutting in-house. This is predicted to increase the business’s turnover by five per cent in 2017.

James Dixon, sales and marketing director at Clan Innovations, said: “Having access to our very own CNC machine is already having a huge impact on our business, as previously we were having to outsource this work – which was proving costly and time consuming. We can now produce high quality bespoke point of sale fittings for clients ourselves, allowing a smoother process, giving us a competitive edge.”

The funding for Clan Innovations was arranged by Will Simpson, one of HSBC’s relationship managers in the Leicestershire region.

Dave Welch, HSBC’s area directors for business banking in East Midlands said: “This investment in the latest hi-tech machinery places Clan Innovations in a really strong position, helping the business to meet demand and offer high quality, tailor-made point of sale devices and large scale boutique stalls for new and existing clients.”