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16th January 2020

Nottingham construction business secures £250,000 loan from MEIF Maven Debt Finance

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D2N2 LEPDebt financeMaven Debt Finance East & South East Midlands

The general building and construction company will use the funding to accelerate their growth plans following a new contract with Nottingham Community Housing Association.

The Midlands Engine Investment Fund (“MEIF”) Debt Finance, managed by Maven Capital Partners (“Maven”), has provided L J General Builders Limited (“LJ General”), a general builders company who undertake residential and commercial property builds, renovations and extensions, with a £250,000 funding solution. The loan will support the company’s ambitious expansion plans, enabling them to finance a new contract to build several properties for the Nottingham Community Housing Association.

LJ Builders are a general building company who undertake new build and renovations/extensions of both residential and commercial properties, predominantly in the East Midlands. Established for 20 years, LJ Builders have a fully qualified team who provide a range services including: plumbing, electrical, tiling, flooring and painting.

The company is led by Managing Director, Leigh Shorrock, has over 15 years’ experience in building and construction with a range of qualifications and Guilds in bricklaying, carpentry and joinery. Leigh leads a team of builders on a variety of bespoke construction projects, managing day to day operations as well as overseeing the company.

Leigh Shorrock, Director at LJ Builders said, “We are delighted to receive this funding boost to enable us to execute our growth plans. Winning the bid for the social housing development on behalf of the Nottingham Community Housing Association has opened the doors for the next growth stage for us and we’re looking forward to this new chapter.”

Richard Altoft, Investment Director at Maven Capital Partners, said, “LJ Builders is a well-established business with a good history of building on time and within budget. This is undoubtedly a step change in the company’s growth aspirations, but the company has been further strengthened in recent years and is suitably positioned to take on bigger projects. We are delighted to provide the business with this loan to help the team pursue their ambitious plans”

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.

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Follow @midsenginv

Birmingham-based 9 Wholesale secured a £150k funding boost from #MEIF and @B_C_R_S to support its cashflow and create three new jobs.

Read the full story in @insiderwestmids: https://t.co/WRvFk7S8nn https://t.co/Ogxorvz7tn
MidsEngInv photo

Are you a #Midlands business owner looking to secure finance?

The @BritishBBank’s Business Finance Guide is a key tool, with information on speaking with investors and what finance type is suited to your business needs.

Download it here: https://t.co/2ePyWkBSKk https://t.co/6b5Lw7yn4v
MidsEngInv photo

#MEIF Equity Finance is well-suited to established businesses or large start ups with ambitious growth plans.

Find out more about the finance type here: https://t.co/vQd1Jk7PHJ https://t.co/6cl9DWZVj3
MidsEngInv photo

The #MEIF Early Assessment Report revealed that 84% of investee businesses now have greater confidence in raising private sector finance.

Read more about the fund's impact here: https://t.co/NnfU2oqVQm https://t.co/KStNhpIott
MidsEngInv photo

Northampton-based @HumleyAI is set to expand following a £700k investment from #MEIF and @Mercia_PLC.

The #AI company develops conversational assistants capable of manning helpdesks and answering technical enquiries.

Read more about the deal: https://t.co/lCzVTOyNBq https://t.co/ghWvUhwYNE
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