Heating firm to ramp up expansion plans

MANCHESTER-based JCM Heating and Renewables has borrowed £400,000 from Secure Trust Bank’s commercial finance arm.

Sale-based JCM is an installer of gas condensing boilers and is backed by Sale Sharks head coach Steve Diamond.

It employs 30 staff and has sites in Birmingham, Liverpool and London.
 
The invoice finance facility will help the firm expand and it is already planning two new sites in Leeds and Newcastle.
 
Jon Mitten, the firm’s managing director, said: “As a business, our aim is to be the number one provider of gas condensing boilers in the UK. The additional funding line means that we now have the flexibility and cash flow in place to take us one step closer to achieving this goal.”
 
David Green, regional sales director at Secure Trust Bank Commercial Finance, said: “JCM is a strong business with an excellent growth strategy looking to target further sites across the UK. This is a prime example of a business that has been restricted by traditional lenders, so we’re pleased to be working with the management team to help them reach their full potential.”
 
Secure Trust Bank is an AIM-listed bank owned by Arbuthnot Banking Group. It launched its Commercial Finance arm in September.