Vimeo logo Twitter logo LinkedIn logo

News

Header icon
Back to News Team member stainless-metal-solutions-ltd

6th August 2019

Cannock-based stainless steel firm secures MEIF finance

A Cannock-based manufacturer of stainless steel metal components has received £60,000 from the Midlands Engine Investment Fund (MEIF).

Run by father and son team Nigel and Jake Mason, Stainless Metal Solutions Ltd (SMS) secured the finance to help purchase new equipment and expand its team - creating an additional two jobs as part of ongoing growth plans.

Nigel Mason, Director at SMS, said: “Benefitting from over 30 years’ experience in supplying coil and sheet to UK and European markets, we have built an excellent reputation in our sector which has influenced recent growth.

“We required funding to purchase new equipment, which has enabled us to advance our product range. This will not only help us boost sales, but also create two new jobs for local people, which is very important to us.”

Jake Mason, Co-Director at SMS, added: “Recent advancements in our sheet polishing department have given us a competitive advantage in the commercial kitchen sector – an area of growth for the firm that we seek to build on with this investment.”

Stainless Metal Solutions secured the funding from the MEIF Small Business Loan Fund, delivered by regional lender BCRS Business Loans.

Louise Armstrong, Senior Business Development Manager at BCRS Business Loans, said: “With a raft of experience and strong plans for the future, we were delighted to be able to provide SMS with the funding it needed to grow, giving the firm a real edge over competitors.

“As a not-for-profit organisation that lends for social and economic impact, we are pleased to see SMS creating jobs which will be beneficial for the local community.

Stoke-on-Trent and Staffordshire Local Enterprise Partnership Chairman David Frost CBE, said: “Small businesses are the cornerstone of our economy and their can-do attitude and appetite for innovation make Stoke-on-Trent and Staffordshire a great place to invest and do business, so it is good to see this MEIF funding being used to support investment in a go-ahead local firm.

“Our region has a diverse and expanding range of impressive small and medium enterprises. Stainless Metal Solutions is an excellent example of this and I wish them every success for the future.”

To discover more about the MEIF small business loan fund in the West Midlands, visit www.bcrs.org.uk.

The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

Follow @midsenginv

Derby manufacturer @ComplexiaUK is set to expand and create 7 new jobs after a £100k boost from #MEIF and @1st_Enterprise.

Funding will be used to invest in new machinery and support the firm as it moves into new markets.

Read more in @insidereastmids: https://t.co/wBhDHDCOXi https://t.co/wcCOQx46lT
MidsEngInv photo

Stay up to date with the latest investment news, views and deals on our #MEIF LinkedIn.

Connect here: https://t.co/2ArDcrrsVn https://t.co/hp9ODpRYO2
MidsEngInv photo

In a guest blog for @pegasusfunding, @LewisGStringer discusses how the @BritishBBank and #MEIF are working to improve access to finance for small businesses in the #EastMidlands.

Read it in full here: https://t.co/4ndpsGsIGT https://t.co/Y5GUIIQwfl
MidsEngInv photo

The #MEIF has helped to create new job opportunities across the #Midlands as our Early Assessment Report reveals funding has been used to increase employment in 81% of recipient businesses.

Read the full report here: https://t.co/NnfU2oqVQm https://t.co/2GGpUtmFaJ
MidsEngInv photo

If you're looking to get your business ambitions off the ground, #MEIF's Proof-of-Concept equity finance can help realise your business dream.

Find out more on our website: https://t.co/JZXreSnJwq https://t.co/f3agCaiRTM
MidsEngInv photo
Find Out More

If you would like to meet with one of our appointed Fund Managers to talk in more detail please go to Funds Available to find the Fund Managers operating in your area

small business loans

Small Business Loans

£25k – £150k

Small Business Loans pageLearn More
debt finance

Debt Finance

£100k – £1.5m

Debt Finance pageLearn More
equity finance

Equity Finance

£50k – £2m

Equity Finance pageLearn More
proof of concept

Proof of Concept

Up to £750,000

Proof of Concept pageLearn More
Follow @midsenginv

Derby manufacturer @ComplexiaUK is set to expand and create 7 new jobs after a £100k boost from #MEIF and @1st_Enterprise.

Funding will be used to invest in new machinery and support the firm as it moves into new markets.

Read more in @insidereastmids: https://t.co/wBhDHDCOXi https://t.co/wcCOQx46lT
MidsEngInv photo

Stay up to date with the latest investment news, views and deals on our #MEIF LinkedIn.

Connect here: https://t.co/2ArDcrrsVn https://t.co/hp9ODpRYO2
MidsEngInv photo

In a guest blog for @pegasusfunding, @LewisGStringer discusses how the @BritishBBank and #MEIF are working to improve access to finance for small businesses in the #EastMidlands.

Read it in full here: https://t.co/4ndpsGsIGT https://t.co/Y5GUIIQwfl
MidsEngInv photo

The #MEIF has helped to create new job opportunities across the #Midlands as our Early Assessment Report reveals funding has been used to increase employment in 81% of recipient businesses.

Read the full report here: https://t.co/NnfU2oqVQm https://t.co/2GGpUtmFaJ
MidsEngInv photo

If you're looking to get your business ambitions off the ground, #MEIF's Proof-of-Concept equity finance can help realise your business dream.

Find out more on our website: https://t.co/JZXreSnJwq https://t.co/f3agCaiRTM
MidsEngInv photo

For the latest news and views join our mailing list

Join our mailing list

Just add your details below to receive the latest Northern Powerhouse Investment Fund news and information