IMH secures six-figure NPIF – FW Capital investment
We’re delighted to share we have secured a £250,000 loan from NPIF – FW Capital Debt Finance, backed by CBILS and part of the Northern Powerhouse Investment Fund.
Funding from NPIF – FW Capital will provide working capital amidst potential delays to projects caused by the pandemic, whilst also safeguarding jobs in the business. In addition to solving immediate business challenges, this investment will aid IMH as we regenerate our long-term growth strategy.
We will continue to provide hydraulic engineering expertise and solutions to our customers in oil and gas, marine, subsea, energy (including renewables), nuclear, infrastructure, manufacturing and automotive.
Dave Hawkins, Portfolio Executive at FW Capital, said: “We have worked closely with IMH since November 2018. The business continues to deliver good results and growth and as long-term partners, we are delighted to see IMH go from strength-to-strength.
“FW Capital is determined to do everything we can to help our investees during this unprecedented time. This NPIF funding will provide IMH with the support it needs to continue to expand and excel as a global industry leader.”
FW Capital is able to offer Coronavirus Business Interruption Loan Scheme (CBILS) backed loans from the Northern Powerhouse Investment Fund between £100k and £750k to SMEs that are experiencing lost or deferred revenues, leading to disruptions to their cash flow.
Both new and existing customers are eligible to apply for FW Capital CBILS-backed funding, as the deadline to apply has been extended to March 31st 2021.
James Griffiths, IMH Managing Director, said: “FW Capital has been a valued supporter of IMH for several years and really goes the extra mile to understand our business. We are impressed with how quickly the team was able to get the funds to us. We are once again very grateful to FW Capital and the Northern Powerhouse Investment Fund for their support.”
Sean Hutchinson at British Business Bank, said: “This investment demonstrates how funding can make a real and measurable difference to businesses across the Northern Powerhouse region, which helps create a more prosperous regional economy. It is critical that we continue to support businesses like IMH, bridging the gap created by the pandemic disruption.”
Throughout the coronavirus pandemic we have continued operations to support our clients in key sectors and will continue to do so. Contact us to see how we can help you.