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15.10.04
Finance Cornwall helps Rent a Fence expand

A Redruth based fence hire company is taking advantage of the region's construction industry boom thanks to a £50,000 investment from Finance Cornwall, the Truro-based business finance company.

Finance Cornwall is a £20 million investment fund backed by £9 million from the Objective One European Regional Development Fund.

Rent a Fence (SW) Ltd was started ten years ago by Paul and Sue Symon and they have built up a strong customer base with many local building companies. But expansion was limited by the amount of equipment available for hire.

Thanks to a £50,000 investment from Finance Cornwall towards an overall £115,000 funding package, the company has been able to buy new fencing stock, a new delivery vehicle, three new trailers and equipment to erect the fences.

The company has also recruited a new manager to co-ordinate the delivery and collection of fencing to clients, and an additional manager will be taken on over the next couple of months to manage the a new depot in Exeter.

Sue Symon, Director of Rent a Fence (SW) Ltd said: "The investment package has already made a real difference to the business with the extra stock bringing in more money. Without the help of Finance Cornwall we wouldn't have been able to make the changes to enable the business to grow."

Finance Cornwall Fund Manager, Jeff Lenihan, said: "Rent a Fence (SW) Ltd offer a diverse range of products to the construction industry and with the large number regeneration and construction projects going on in Cornwall and Devon at the moment it was the right time for the business to expand.

"Paul and Sue were able to get some of the investment that they needed from their bank, Barclays in Redruth and Finance Cornwall was able to provide the remainder and structure the deal. This is exactly the sort thing we're here to do, and by working with other funders we can make deals happen."

Finance Cornwall has invested a total of £1.95 million in 42 Cornish businesses, helping to attract an additional £10.22 million of funding from the private and public sector.

For more information visit www.financecornwall.co.uk

 

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Editor's notes:

Finance Cornwall background

Finance Cornwall is a £20 million investment fund backed by £9 million from the Objective One European Regional Development Fund.

For more information contact:

Jason Clark
Deborah Clark & Associates
01872 276276
07980 834368

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Sue Wolstenholme
Objective One Communications
Objective One Partnership Office
Castle House
Pydar Street
Truro TR1 2UD
Mobile: 07973 813647
Telephone: 01579 370991


lmroberts@cornwall.gov.uk

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