MEIF Debt Finance backs bespoke furniture manufacturer ACL with £500,000 of funding
Share this Article:
Maven Capital Partners continues to fuel growth plans of many regional businesses across the West Midlands via the MEIF Debt Funds.
The Midlands Engine Investment Fund Debt Finance, managed by Maven and the Coronavirus Business Interruption Scheme Loan (“CBILS”), has provided ACL £500,000 worth of funding. This recent capital boost will enable the business to push forward plans with product development.
Based in the Black Country, ACL is a furniture manufacturer who specialise in the design and production of bespoke fabric and leather sofas and chairs, and currently supply most of its designs to major furniture retailers. The £500,000 funding package via MEIF will be used to progress with its product development plans and with the launch of its new reclining chair range, alongside supporting working capital.
ACL is a great example of a local businesses Maven aims to support via the MEIF Debt Funds. Other businesses seeking funding to execute expansion plans that contribute to regional economic growth as well as contribute to job creation for the local area can contact Maven to find out if they are eligible to apply for funding via MEIF Debt Finance.
Chris Rogers Investment Manager for Maven comments: “I’m pleased to be able to assist ACL with MEIF funding. The business was impacted by the effects of COVID-19 but have remained strong by seizing opportunities for growth as the country recovers from the pandemic.”
Craig Watts Chairman at ACL Limited highlights: “As our business is in the process of launching new products to market, we are delighted to receive financial support from MEIF Maven. The funding will no doubt bring us one step closer at achieving our ambitious growth targets."