An engineering company which suffered a slowdown in trade due to the pandemic has received a £100,000 CBILS-backed loan to help it bring in new orders.
ECF Special Alloys, in Worksop, north Notts, got the support from NPIF - Mercia Debt Finance, which is managed by Mercia as part of the Northern Powerhouse Investment Fund.
The funding will provide the business with working capital and money for new equipment.
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Management said work has returned after its order book was affected by delays on major infrastructure projects.
They expect a busy summer ahead as work on projects resumes, helped by the rapid vaccine roll-out.
ECF fabricates pressure vessels, heat exchanges, valves and other equipment for industries such as offshore, pharmaceutical, process and utilities.
It was founded in 1993 by current chief executive Peter Elliott, and employs 15 staff, working with clients including Siemens, BP, Veolia Water, Syngenta, Ineos and SPX.
Mr Elliot said: “We went into the first lockdown with a full order book and continued to work through.
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“However, while we did see an upturn in business from the pharmaceutical sector, delays to other major projects meant that the flow of new work slowed down.
“The funding is helping to support us as we gear up and invest for the future.
“Orders are now starting to flow in once again and we believe the progress of the vaccination programme will make 海角视频 suppliers like us well placed to compete globally.
“Security of supply is critical for our clients – if a ship has to pull into dock or a plant shut down to be fitted out, they want to be sure the equipment will be there on time.
“If the workforce is vaccinated, they will see the 海角视频 as a more secure source of supplies than other countries.”
The funding is helping ECF to invest in welding technology, upgrade overhead cranes and its computer system.
Andy Tyas of Mercia said: “Peter has built up this business from start-up and it is now a well-respected specialist in its sector.
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Covid-19 did have an impact for a few months, but the business is now recovering strongly.
“The funding will help to further develop its products and services moving forward.”
John Sellers of Optimum Commercial Solutions provided fundraising advice to ECF.
He said: “I’m pleased to have been part of the team which assisted ECF in these challenging times.
“Sourcing the right funding is a key consideration in any company’s growth and by working closely with Andy at Mercia, we were able to structure and deliver a package which met their needs.”