Fens electrical wholesaler - that only began trading in 2014- secures £50,000 to fund its planned growth
- Credit: Archant
Electrical wholesaler March Electrical Supplies Ltd has secured £50,000 to finance its planned growth.
The company, which sells electrical components to electricians and other trades people across the East of England, began trading in April 2014 as the only independent electrical wholesaler in the area. The £50,000 finance facility provided by Aldermore will be used to fund the company’s growth.
Tony Heskins, director, said: “During our first year of trading we were able to run the business without external finance, however to accelerate our growth and ensure we were well-placed to take advantage of opportunities we decided it was the right time to inject new funds into the business. This is why we turned to Aldermore.
“Our initial conversations with the Bank were very positive and although the relationship is still new, we’ve been really pleased with the service we’ve received from Aldermore and found their online systems very easy to use.”
Andy Geagen of Aldermore said: “We were very impressed by the team at March Electrical and in particularly the high service levels they provide to their clients.
“We saw that it was a business with real potential to grow so were delighted to provide funding to help the company support its expanding customer base.
“We are always looking for growing businesses like March Electrical to help them achieve their ambitions by providing the funding they need for success.”
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* Established in 2009, Aldermore has grown significantly and now has more than 850 employees. At the end of June 2015, lending to customers stood at £5.4 billion and customer deposits totalled £5.0 billion.