A £1million investment will see a window and door manufacturer embark on a period of growth, with the aim of surpassing pre-pandemic business levels.
Nationwide Frame Services, based in Chorley, works with home builders such as Bellway, Taylor Wimpey and David Wilson Homes.
It received the working capital injection from SME finance specialist Reward Finance Group, which was introduced by Wane Group, led by management consultant and former rugby league player and coach Shaun Wane.
Nationwide Frame Services was established by brothers Paul and John King 25 years ago and today employs 60 people.
Paul King said: “Like many in our industry, our turnover has been impacted by COVID over the past two years as construction sites were initially closed, reaching construction schedules, followed by supply chain issues. ‘supply. Despite all of this, we remained profitable throughout.
“However, this impacted our cash flow, and we were keen to free up cash tied up in invoices, as well as have additional working capital to purchase increased inventory levels to meet demand. growing.”
He added: “We met with Mike Calvert from Reward who was impressed with the quality of our product line, qualified team and blue chip client list, and quickly provided us with the funds we needed to advance our plans.”
Mike Calvert, Business Development Manager for Reward North West, said: “Suppliers to the construction industry have faced some of the toughest challenges over the past two years due to the pandemic. However, the future is bright as the UK has an urgent need to build new homes, and Nationwide is perfectly placed to work with homebuilders to meet the demand.
“We were therefore pleased to provide the £1m facility through our Asset Based Solutions product, which uses a number of assets as collateral, to provide the springboard for their next 25 successful years.”