Barrow training provider secures £40k Northern Powerhouse investment
Cumbrian training services provider NC Training has secured five-figure funding from the Northern Powerhouse Investment Fund (NPIF).
The Barrow-in-Furness-based company will use the £40k loan to create at least seven jobs and acquire new IT equipment.
NC Training is led by director Nicola Cassley and currently employs 32 staff, who provide training and apprenticeship services on behalf of colleges and training organisations.
The investment, made through NPIF - BFS & MSIF Microfinance, is the Fund’s first in Cumbria.
NPIF - BFS & MSIF Microfinance is managed by funding providers Business Finance Solutions (BFS) and MSIF.
Nicola Cassley said: “I can’t recommend the Northern Powerhouse Investment Fund enough. [Senior business loan manager] Mark at BFS guided me through the process every step of the way which made it extremely straightforward.
“The funds which became available within 48 hours, has already enabled the purchase of new ICT equipment and the recruitment of two additional trainers.”
She added: “The extra funds will also allow us to upskill our workforce and expand our business capabilities as we take on new contracts.”
BFS’ Mark Gibbons commented: “We are pleased to be able to support NC Training who have grown rapidly in a short period of time.
“The business is doing great work in the region delivering training and apprenticeships services for many young people across Cumbria. The funding will allow the business to deliver on newly awarded contracts.”
The CEO of the British Business Bank, Keith Morgan said it is “great to see the Northern Powerhouse Investment Fund starting to deliver for local businesses in Cumbria” and hopes to see more developments across the region in the future.
Cumbria Local Enterprise Partnership Chair George Beveridge said of the transaction: “It’s good to see NPIF striking its first deal with a Cumbrian firm with aspirations for further growth, enabling NC Training to create new jobs and invest in the latest high-tech equipment to extend their services.
“We hope this will be the first of many more opportunities for Cumbrian businesses to gain access to the right type of finance to facilitate and accelerate their growth.”
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