Des Smith, Business Doctor for Manchester South, procured an offer of grant funding of £200,000 and loan finance of a further £800,000 on behalf of his client.
The client company, who wish to remain anonymous, are in contract packing and are based in Derbyshire.
The funding will allow them to develop a new larger site five miles down the road from their existing plant, with a total project cost of £5.45m. Twenty jobs will be created as a result of the investment.
The funding was obtained from Invest To Grow, administrated by University of Derby and funded by the Regional Growth Fund.
Des said: “I am over the moon to have had such a success on behalf of my client. This funding will transform their business and is also great news for the local jobs market.”
Invest to Grow is a programme designed to support private sector businesses, in East Midlands to grow and create jobs. Grants and loans are available for up to 30% of the cost of investment. The minimum award size is £15k. The programme is aimed at priority growth sectors such as transport equipment manufacturing, life sciences, construction, food & drink manufacturing, logistics, low carbon and creative industries.