Birmingham City Council leader John Clancy said earlier this year, “(Entrepreneurs) risk-takers are hugely important to the city economy, creating jobs and wealth. Given the right support, they can help us create inclusive growth across Birmingham, so I’m delighted that we’re able to support our SMEs through the new Birmingham Small Business Loan Fund.”
The Birmingham Small Business Loan Fund (BSBLF).is administered by ART Business Loans and supported by Birmingham City Council, Thin Cats peer lending platform and Unity Trust bank. It provides loans of between £10,000 and £100,000 for small to medium sized businesses (SMEs) in Birmingham that are unable to obtain any or all of the finance they need from high street banks.
KPM Marine, which we featured in 2013, (KPM safety products lead in global marine and automotive markets), has been able to use a BSBLF loan to provide working capital to help it take advantage of growth opportunities presented by recent shifts in the value of sterling.
KPM products and designs – in Mott Street, Birmingham – are the first choice of work-boat builders, military and rescue agencies throughout the world. Julian Morgan, Joint Managing Director of KPM Marine, said “We can find ourselves competing with some of the world’s largest manufacturers . . . 95% of our supply chain is based in Birmingham, which is not only good for the local economy, but also gives us greater flexibility, faster response times and better control over quality than sourcing products and materials from the Far East.”
In 2003 the Duke of York looked over Rikki Hill’s V24 ‘Bat boat’ under the watchful eye of Jules (Julian) Morgan, owner and design director of KPM Marine and founder member of Idea Birmingham.
Julian’s business partner, Joint Managing Director John Key adds: “We moved into the marine sector around 15 years ago and have developed our product range to include bilge pumps, engine reventilation systems, shock-mitigating seating systems and interior fit out modules. We are delighted to have won naval contracts on both sides of the Atlantic and in Europe. Our latest success is as part of the supply chain providing a fleet of up to 38 workboats to support the Royal Navy’s new flagship carrier HMS Queen Elizabeth”
Steve Walker, Chief Executive of ART Business Loans says: “KPM Marine is a good example of the type of business we are here to support – innovative and dynamic small to medium sized enterprises which are the lifeblood of the local economy, but which struggle to access finance from the banks.”