Nottinghamshire Garden Buildings Maker Raises Funding
A Nottinghamshire garden buildings maker is to create 40 new projects after receiving nearly £2m from the EU and Lloyds Bank.
Worksop-based BillyOh has received £1.5m from Lloyds Bank and £400,000 from an EU grant.
The organization, setup in 2005, will now have the ability to purchase several extra machines, at a cost of around £500,000 each, as well as quadruple its output of log cabins.
The £400,000 EU award – the largest of its own financing around — was granted in November with the aim of encouraging the regeneration of Worksop.
“The funding we have used alongside our own investment will see us through a five-year plan we have set out to help encourage long-term growth of the company.”
Phil Simpson, relationship manager at Lloyds Bank, said: “BillyOh includes a solid vision of its direction for growth, and it has established itself firmly in the marketplace.
“Supporting BillyOh’s growth ambitions, as well as also the opportunities it creates to your Worksop community, is part of our dedication to helping Britain thrive”