EFG loans help two North West firms
TWO North West firms have secured extra finance through the Enterprise Finance Guarantee (EFG) scheme.
Proweld Engineering Services, based in Ellesmere Port, has secured a £350,000 loan from Lloyds TSB Commercial which has enabled it to take on a £1.2m Ministry of Defence contract.
In Cheshire, Robat, which makes equipment used to test large circuit boards, has arranged a £200,000 loan from NatWest which it will use to build two new demonstrator models.
Founded in 2000, Bollington-based Robat has a turnover of £1m, and serves a global customer base from facilities in the US and China.
Proweld is a mechanical engineering contractor that provides pipe and steel work fabrications and plant refit services to companies in the nuclear, petrochemical, chemical and food processing industries.
The business is aiming for a turnover of £5m this year – up from £2.3m in 2009. The new contract will add a new project manager and 12 new welders to its 50-strong team. It is also assessing export opportunities after securing two contracts in foreign markets.
