Staffordshire Business Loan Fund supports its 100th

Staffordshire Business Loan Fund supports its 100th Business

Netmania’s Nick Wilcox with Cllr Mark Winnington

Staffordshire Business Loan Fund has seen a Lichfield firm become the 100th business to benefit from a business loans scheme – a joint venture between Staffordshire County Council and BCRS.

Netmania, an ICT solutions company, who received an initial loan in 2010 and has now been handed another business loan to help further expand their company overseas following the development of a product which enables the management of internet connections across multiple devices.

The money for the business loan was provided by the Staffordshire Business Loan Fund, which aims to help firms which are having difficulty in raising the funds they need from mainstream lenders.

“Staffordshire County Council and BCRS (Black Country Reinvestment Society) saved Netmania,” said Netmania’s company director Nick Wilcox. “Without them there would be 30 people without jobs and that includes me.

Staffordshire Business Loan Fund provides Business Loans

He continued by saying “The loan fund is perfect for businesses like mine. I felt that the loans fund team listened to me and understood my business. From the beginning I could tell that they wanted to help and kept me informed at each stage.

“The process was straightforward, everything was done when they said it would be and all in all I would recommend them to any business looking for access to finance if the bank says no.”

The fund has already invested more than £2.8million in Staffordshire businesses.

Cllr Mark Winnington said: “Netmania’s success in turning its business around, becoming a recognised global leader in its field and creating skilled jobs in Staffordshire is exactly what we want to see from our loans scheme.

“To reach the 100th loan is a significant milestone and demonstrates that the fund is making a real difference to businesses and the local economy.”