County Durham-based architectural metalwork specialist has secured a £50,000 loan from the Finance for Business North East Microloan Fund securing 23 jobs and enabling the company’s first steps in larger diversification and growth plans.
Established in 1989, Steelcraft is a family-run company based in Chester-le- Street, County Durham. Primarily serving the North East, the business designs, manufactures and installs architectural metalwork including railings, gates, balustrade, stairs, balconies, and secondary steelwork.
Specialising in bespoke products, Steelcraft offer full design, manufacture and installation services. They have built their reputation on providing quality products at the right prices helping clients in selecting the precise specification to meet their design requirements.
In the past 18 months, the management team have embarked on a restructuring of the business including reducing cost bases, increasing efficiencies and have also started to expand their product range.
Matthew Rodgers, Commercial Director at Steelcraft said, “The Microloan Fund has put us firmly on a path for growth, in particular by recruiting an additional draughtsman and updating CAD software to tackle more projects in less time. We have big plans to take advantage of a resurging construction sector as well as opportunities in other markets and we have now put the foundations in place to do so.”
James Holloway, Investment Executive at Rivers Capital said, “Steelcraft have a wealth of knowledge in this industry and they will use this to drive the business forward into its next phase of growth. A great example to other local businesses looking to raise finance to start-up or grow, I look forward to watching this company thrive.”
Rivers Capital Partners offer small loans anywhere between £1,000 up to £50,000 for businesses in the North East. Rivers value the quality of the business rather than their assets. It is a quick and easy process with successful applicants receiving their loan on average in just two weeks. The Microloan Fund aims to boost the regional economy and since inception in 2011, has created over 520 jobs and safeguarded over 750.