Fund helps business with cash flow

09/06/2009

A successful Rotherham-based information and communications technology firm has received help in completing its latest contracts thanks to a £30,000 loan from the South Yorkshire Investment Fund.
Data cabling and IT infrastructure company Connect-IP realised it needed to increase its working capital after it won a number of new national contracts, including one from a leading national children's hospital.
That was when the firm turned to the South Yorkshire Investment Fund (SYIF), which was happy to lend the company £30,000 to help finance a phase of the contract.
Mark Richardson, director of Connect-IP, said: "We had seen a number of national contracts come in and the company enjoyed a rapid expansion during a short period of time. The working capital was vital to keep the progress going.
"The money from SYIF enabled us to secure and deliver phase one of the upgrade for the hospital. We are now embarking on phase two, which will run throughout the next 12 months. It's a significant contract for the company and will rapidly increase our turnover for 2009."
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