Technology firm secures future with £200k funding package
Manchester-based security technology firm, Avesta, has secured a £200,000 Coronavirus Business Interruption Loan Scheme (CBILS) loan from NatWest, to safeguard the future of the business.
The funding has enabled owners and brothers, Javid and Hamid Aria, to invest in a steady stream of security supplies to support growth throughout the pandemic.
The firm, which provides equipment and security services to businesses across the UK, had seen increased demand for intelligent CCTV systems as businesses and commercial buildings remained vacant over the past year.
To meet this demand, Avesta created three jobs in the local area to help with stock management.
Javid and Hamid have been business partners since 2008 and after five years of establishing a network of contacts, launched Avesta in 2012.
After relocating to bigger premises in 2019, Avesta has continued to grow, doubling turnover to £2.6m in 2020.
As the main supplier of HikVision and HiLook in the North West, the company has supplied high performance security systems in more than 10,000 buildings and businesses over the past 12 months.
Javid said: “The past 12 months have been a whirlwind at Avesta.
“At the beginning of the pandemic, like many other businesses, we were faced with uncertainty on how we would be impacted.
“We have been very fortunate, and thanks to the hard work of the team, we have managed to positively navigate the pandemic and have seen an influx of new customers.
“With the support from NatWest, we were able to ensure we had enough stock to help businesses secure their vacant properties through the different national lockdowns and we have expanded our team to facilitate increased demand.”
Joshua Norman, senior relationship manager at NatWest, said: “We have worked with Avesta for a number of years and, despite the uncertainty of the last 12 months, we have supported them to ensure they could meet increased customer demand.
“We look forward to seeing Javid, Hamid and the team continue to expand Avesta’s customer base nationally.”