Lanarkshire based security services company strengthens their position & secures 66 jobs in time for anniversary.
28 Apr 2021
A significant year for security services company after early repayment of their £250k funding package in-time for anniversary celebrations.
Founded in March 2020, Secureshield was formed as a result of a management buy-out of Scottish based security company. They provide fire, security, life safety and technology enabled care services (TECS) throughout Scotland and England, providing its services to clients across both public and
Securing funds to support a management buy-out through their Business Bank and with input from the Directors, the team at Secureshield turned to Business Loans Scotland to obtain their final batch of funding and successfully applied for, and received, a £100,000 loan at the start of 2020.
Following the success of the buy-out Secureshield approached Business Loans Scotland for an additional round of funding.
A further loan of £150,000 was approved in July 2020 to help with working-capital requirements due to planned works being postponed because of the lockdown restrictions imposed during the pandemic. When restrictions were eased Secureshield was fortunate enough to continue with works that had been planned and then went on to acquire an electrical company to bolster their position as a leading supplier of CCTV and security systems in Scotland. Within this timeline they safeguarded 66 local jobs, invested heavily in the latest technology to provide a seamless and paperless user journey. They have also strengthened their leadership team over the past year, investing in staff that are leaders in their respective fields and offer the best in-class service to their customers.
After a successful end to their financial year Secureshield have now repaid the £250,000 received from Business Loans Scotland. This has all been achieved within the companies first year of trading and is a testament to the hard-work of the Senior Management Team and their employees.
Providing loan finance from £25,000 to £100,000, Business Loans Scotland is the Fund Manager for a £7 million loan fund which seeks to invest in new and growing Scottish SMEs.
Fully funded through the Scottish Growth Scheme and European Regional Development Fund (ERDF), the loans issued through Business Loans Scotland provide SMEs with access to finance which can be used for various purposes including but not limited to, raising working capital, investing in office premises, recruiting new employees and introducing new product lines.
Speaking of the loan received, John Hunter, Director of Secureshield said:
“This first round of funding by Business Loans Scotland was crucial in ensuring we met our rapid stabilisation objectives. BLS were realistic and so supportive with the first traunch of loan that they became the natural choice for the second round of seed funding we knew we would require. There’s no doubt that without the support of BLS we would have had a greater challenge to protect the jobs that were at risk, facilitate the stabilisation and allow us to make our first acquisition. Early repayment of both loans was easily managed between both parties and we’re delighted BLS remain in touch with us to track our progress.”
Andrew Dickson, Fund Manager of Business Loans Scotland added:
“Business Loans Scotland was involved at the outset with the Management Buyout and supported the company with a loan of £100,000 helping safeguard 51 jobs. BLS supported the company with a further loan of £150,000 to help the business with working capital requirements to help them through the Coronavirus pandemic. I am absolutely delighted the business has taken off as strongly as it has done and for the business to be able to repay its loan is testament to the Directors in recognising the opportunity and leading the business forward, so positively. I wish the business well and look forward to watching them go from strength to strength.”