Cherwell Valley construction firm to build B2B portfolio following £225k funding boost
Added by Love Business East Midlands | 1 March 2021
UPDATED: 1 March 2021
HNB Construction Services Ltd (HNB) has secured a £225k loan from the Midlands Engine Investment Fund (MEIF) Debt Finance, managed by Maven Capital Partners (Maven), backed by the Coronavirus Business Interruption Loan Scheme (CBILS).
The Cherwell Valley based company will use the funding to help kick start a number of projects that have an estimated value of over £3 million. HNB is also looking to expand its portfolio further by seeking out new projects within its target B2B sectors.
HNB specialises in predominantly B2B refurbishments, renovations as well as new builds. It currently manages a variety of commercial building projects, including historical and listed buildings, with a focus across Buckinghamshire and Northamptonshire. HNB also provides a technical construction and financial advice service to potential clients at the concept stage as well as collaborating with the project team before the work begins on site.
Anthony Nicholls, Managing Director at HNB Construction Services Ltd, said:
“The funding provided will enable our business to continue to grow, both in terms of turnover and the number of people we employ locally. We are very grateful for the support provided by Graham and Maven and look forward to what the future holds for HNB Construction Services Ltd.”
Graham Hall, Investment Manager for Maven, said:
“We are really pleased to have been able to support Anthony and John in these challenging times. This funding should ensure that another great SEMLEP business can grow and prosper, regardless of the present economic and social climate.”
Lewis Stringer, Senior Manager at the British Business Bank, said:
“The MEIF is continuing to support businesses across the Midlands during this challenging period, helping companies, such as HNB Construction, to expand their market presence and secure new customers.”
Vicky Hlomuka, Growth Hub Manager at SEMLEP’s Growth Hub said:
“It’s great to see the Midlands Engine Investment Fund starting 2021 by supporting yet another South East Midlands business. We’re excited to see this investment support HNB Construction Services Ltd to unlock greater growth and create employment opportunities in our region.”
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.
The Coronavirus Business Interruption Loan Scheme (CBILS) is managed by the British Business Bank on behalf of, and with the financial backing of the Secretary of State for Business, Energy and industrial Strategy (BEIS).
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