Aberdeen aerial safety firm prepares for take-off with business loan from Scottish Growth Fund
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BE Group Debt Finance Scotland has backed Innovair with a business loan to allow the Aberdeen firm, which provides hi-tech surveying and inspection services across multiple sectors such as construction, rail and energy, to invest in innovative solutions and bring more resource into the business in order to increase marketing efforts targeted at a wider customer base.
Tom Brock, fund director; Stuart Lawson, Innovair solutions director; Patrick Burke, investment portfolio executive (Image: BE Group Debt Finance Scotland)
The firm, which is account-managed by Scottish Enterprise, has been approved for a loan through the Scottish Growth Fund, which will help support its growth plans.
BE Group Debt Finance Scotland manages a £12 million loan fund under the Scottish Growth Scheme, part funded by the European Regional Development Fund (ERDF), which aims to invest in and encourage the growth plans of Scottish SMES (small and medium- sized enterprises).
The loans range from £25,000 to £ 100,000 and can be used for a range of purposes including capital investment, exports, innovation and product development.
The team has a background in helping SMES as well as “extensive networks” across the business community.
Thomas Brock, fund director for BE Group Debt Finance Scotland, said: “The opportunity to support the growth of an industry pioneer like Innovair is quite special for us.
“The aim of the loan fund is to assist ambitious and innovative SMES in Scotland that have struggled to get suitable growth funding elsewhere. This is precisely what we were able to do with Innovair.
“We believe that they have a great future ahead of them and are excited to be part of their journey.”
Working predominantly for construction, rail, utilities and oil and gas companies, Innovair’s experienced team of chartered surveyors, inspection engineers, aeronautical and mechanical engineers utilise state-of-the-art robotic technology to deliver unique services to their clients in order for them to complete dangerous tasks without putting people at risk.
Stuart Lawson, solutions director at Innovair, added: “This loan is going to help us implement innovative robotic solutions, invest in marketing and generally take our business to the next stage.
“We were impressed by the straightforward application process and the quick turnaround by the BE Group Debt Finance Scotland team. There is not a lot of funding as accessible and well supported as this on the market and it really makes a difference for small companies like ours.”
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