Edinburgh printing company receive £100k funding to ensure recovery through the pandemic.
03 Feb 2021
Ivanhoe Caledonian recently received a 100k COVID Working Capital Loan to help with the negative impact of the on-going COVID pandemic.
The east of Scotland's largest printing company Ivanhoe Caledonian is the result of a 2017 merger between Ivanhoe Printing Company and Caledonian Colour Printers. With over 80 year’s experience in Litho / Digital printing and finishing, they pride themselves on reputation, customer service, experience and quality of work. Ivanhoe's plant, based within the Riverside Works, Musselburgh produces quality print materials for clients in Scotland and around the world. This is achieved by using specialist in-house large format printing presses and finishing equipment.
The company has seen a period of growth after the 2017 merger and to continue their ambitious plans they are currently looking to expand into packaging. Investment in new machinery is now underway as this will enable them to grow turnover, improve efficiencies, profitability and maximise the true potential of the packaging market.
In 2020, as the company continued to recover from the negative impact of COVID-19, they identified an immediate need for additional working capital of £100,000 to allow them to continue recovery, safeguard jobs and maintain vital working relationships with their suppliers.
Business Loans Scotland have now issued the £100,000 working capital loan, which will put Ivanhoe Caledonian in a strong position to continue with their growth plans for 2021 and beyond.
Speaking of the loan awarded, Director for Ivanhoe Caledonian, Keith Cockburn said:
“Business Loans Scotland were extremely helpful and understood what we are looking to do with the business going forward. They provided us with the additional funds we needed to deal with the immediate impact of Covid-19 on the business which has allowed us to continue with our plans for growth and diversification into the packaging market. We would definitely recommend BLS and would look to use them again ourselves if required for future growth.”
In addition, Fund Manager for Business Loans Scotland, Andrew Dickson said:
“I am absolutely delighted that Business Loans Scotland has been able to support Ivanhoe Caledonian with a COVID Working Capital Loan. At the start of the Coronavirus pandemic, we recognised that businesses were going to be financially impacted as a result of the lockdown and the restrictive measures placed on business. So, we were pleased to receive additional flexibility from the Scottish Government to allow our funds to be used to support businesses that need further working capital to help them trade their way through the pandemic. I wish the company well in growing the business and look forward to watching them develop and flourish.”