Advanced Dynamics will increase stock levels and boost sales to businesses which need access to new machinery within short time scales after securing a £200,000 loan.
The Bradford-based packaging machinery supplier secured the loan from NPIF – Mercia Debt Finance, which is managed by Mercia and is part of the Northern Powerhouse Investment Fund.
The company supplies automated liquid filling, capping and labelling machines which are used to produce everything from tubs of face cream and bottles of shampoo, to large containers of industrial chemicals.
MD Malcolm Little said: “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.”
Alex Baskeyfeld of Mazars provided fundraising advice to the company.