An Ardboe business has increased its revenue by 30 per cent and created 15 new jobs with the help of a Growth Fund Loan.
Ardboe Coldstore Ltd took a £500,000 loan from the Growth Loan Fund around 18 months ago.
Since then, the company has expanded rapidly and now has 60 employees, which service a number of national and international companies, including Dale Farm, Karro Foods and Lacpatrick Dairies.
Finance for the £50m Growth Loan Fund – which provides loans to established SMEs seeking to access growth finance – was provided by Invest NI and private investor, Northern Ireland Local Government Officers’ Superannuation Committee (NILGOSC).
Established in 2004, Ardboe Coldstore provides temperature controlled warehousing and distribution services to the food sector.
Managing Director, Eugene Carson, said: “Over the last 18 months the business has gone from strength-to-strength. The Growth Loan Fund has enabled us to create an additional 15 full time jobs, increase our revenues by 30 per cent, set up a satellite site in the North West of the Province and expand into several new markets such as the Netherlands and France.”
See www.growthloanfund.com for more information.