A Yorkshire supplier of packaging machinery and Connect Yorkshire member is gearing up for growth with the help of a £200k loan from NPIF – Mercia Debt Finance.
Advanced Dynamics, which provides packaging machinery to industries such as food, pharmaceuticals, chemicals and cosmetics, received the funding to increase its stock levels and boost sales to businesses which need to access new machinery within short timescales.
The funding is managed by Mercia and is part of the Northern Powerhouse Investment Fund.
Advanced Dynamics currently employs 16 staff, but now expects to create three new jobs in the year ahead.
Malcolm Little, managing director of Advanced Dynamics, commented: “Deliveries of new machines can typically take three to four months if they are manufactured to order.
“However, in some cases, customers need a machine immediately to enable them to speed up production or take on a new contract.
“This funding will allow us to keep additional stock of popular models and make sales that we would not otherwise have had.”
Jonathan Craig of Mercia added: “Advanced Dynamics is an established and well-run business that has embarked on a growth programme.
“In particular it has identified opportunities to boost sales by increasing stock levels.
“The funding will provide the working capital it needs to do this.”