A Coventry-based electrical wholesaler has a bright future ahead after securing an £80,000 funding boost from BCRS Business Loans.
DSK Electrical secured a business loan to renovate its CCTV and lighting showroom and store on Lockhurst Lane, which is now almost complete.
The family-run business, which has been established for over eight years, has also employed an additional two full-time members of staff and has extended its product range to meet changing customer needs.
DSK Electrical accessed finance from the Community Investment Enterprise Facility (CIEF), which is delivered to West Midlands based SMEs by alternative business lender BCRS Business Loans.
Sundar Bhambra, Managing Director of DSK Electrical, said:
“Securing funding has enabled us to put our growth plan into action and is a strong expression of confidence in the future direction of our business.
“We are in the process of renovating our showroom in Coventry to enhance the customer experience and have extended our range of CCTV security cameras after experiencing an increase in demand this year.
“We are proud to be a family-run one stop shop for all electrical requirements. Our client base ranges from electrical contractors and the general public to international sports stores and hotel groups, and many in between.”
Osman Baz, Business Development Manager at BCRS Business Loans, who supported DSK Electrical throughout the loan application process, said:
“We are delighted to have supported the growth of DSK Electrical. By providing the company with the finance that it needed, and under the lead of Sundar, it has been able to take a big step forward.
“We believe that no viable business in Coventry and the wider West Midlands should go unsupported. We understand that businesses are looking for guidance throughout the loan application process, which is why we offer a relationship-based approach to lending and do not base our decisions on impersonal credit scoring systems.
“As a lender of social and economic impact, it is really positive to see that two new full-time jobs have been created.
Alastair Davis, Chief Executive at Social Investment Scotland, who manage the Community Investment Enterprise Facility (CIEF), said:
“I am delighted to see that CIEF is making a real difference in the West Midlands as well as the impact DSK Electrical and BCRS are delivering in the region.
The fund was established to enable SMEs to grow and scale and support lenders such as BCRS”
BCRS Business Loans support the growth of viable West Midlands based businesses that are unable to access finance from traditional lenders. Affordable loans from £10,000 to £150,000 are available over terms of one to seven years.