Family Business Secures £50,000 Loan to Support Expansion Plans
17 Jan 2019
Glasgow based supplier of fire-resistant cable support ‘The Linian Fire Clip’, plan to utilise their loan to increase storage and production capacity to support business growth.
The Linian Fire Clip is a time-saving alternative for installing fire resistant cables on brickwork, concrete, masonry, wood studs and wood beams compared to conventional methods.
The original clip was first invented in 2006 by Director Wesley Arbuckle to meet the demands in the market for a faster, simpler and safer way of installing cabling. Almost 10 years on from the original Linian Fire Clip being invented, it was in 2015 when Wesley’s children Ian and Lynne came on board and created the Linian brand as it is known today.
The fire clip’s steel composition offers fire resistant properties that exceed all other products and does not require tools, plastic plugs or any other component to install. With a massive 1,200,000 units sold in the first year of Ian and Lynne joining the business, it was clear to see the business was growing from strength to strength. Now the Linian brand boasts 15 products across 3 different ranges with more products set to be released this year.
In addition to this, on 1st January 2019, new regulations were put in place making it mandatory to use metallic fire-resistant cable supports when attaching cables to walls or ceilings. With this in mind, Ian and Lynne grasped the opportunity to apply for loan funding to support an increase in their production and storage capacity enabling the business to keep up with the demand to supply the fire clip both in the UK and overseas.
Speaking of the loan secured, Managing Director Ian Arbuckle said:
“We are a fast-paced business and have received great support from Business Loans Scotland throughout the whole process. We are delighted to be expanding Linian as a result of securing the loan and look forward to further developing and growing the family business.”
Graham Smith, Group Manager of Economic Development at Glasgow City Council, added:
“The loan to Linian Supply Co Ltd., through Business Loans Scotland continues to demonstrate the commitment Glasgow has for supporting new and existing businesses in the City. This investment of working capital will assist in funding expansion of the business, including entry into new markets, increased customer base and increased stock. This is in line with the growth phase and strategy of the business, which also includes increased international sales and increased staffing.
The assistance also allows the business continue with its growth strategy, whilst continuing to develop new and innovative products.
Glasgow City Council remains committed to fostering an innovative environment in Glasgow that supports small businesses in realising their growth potential”.
With the Scottish Growth Scheme moving into the next phase, Business Loans Scotland has been appointed as one of five Fund Managers to invest Scottish Government funds to help Scottish SMEs start up and grow. Providing loans from £25,000 - £100,000, BLS Debt Finance will be managed by Business Loans Scotland and will continue to give SMEs across Scotland access to funding to help support their ambitions.
Speaking of the loan secured by Linian Supply Co. Ltd, Fund Manager of Business Loans Scotland, Andrew Dickson, added:
“I am absolutely delighted Business Loans Scotland has been able to support Linian. I wish them well in growing their business and look forward to watching them develop and flourish. I am also delighted Business Loans Scotland has been appointed as one of the Fund Managers under the Scottish Growth Scheme and look forward to being able to support many more Scottish businesses, like Linian, access debt finance.