Technicoat, a Leicestershire-based paint spraying facility, has secured £7,000 funding from First Enterprise – Enterprise Loans under the British Business Bank’s Start Up Loans programme to kickstart the business.
Technicoat was formed with a solid foundation of family business values and looks to be the go-to destination for high-quality paint spraying services, from point of sales and exhibitions, to home furniture and kitchen resprays.
Greg Hawkins, Founder of Tecnicoat worked alongside his father, a sole trader in the paint spraying industry for over 35 years. Through this journey, he has witnessed the ups and downs of his parents’ business, gaining a first-hand understanding of the entrepreneurial landscape and is now ready to make his own mark in the industry.
The funding from First Enterprise – Enterprise Loans will be used to acquire equipment, secure premises, boost online presence, and facilitate future staff employment.
First Enterprise – Enterprise Loans provides business loans ranging from £500 – £150,000, which are funded through several regional funds, for start-ups and SMEs that are unable to borrow from traditional high-street lenders. The not-for-profit organisation reinvests any surplus into loan funds to further support economic growth and job creation in the local communities.
Greg Hawkins, Founder of Technicoat, comments: “I greatly appreciate the support provided by First Enterprise – Enterprise Loans during the application process. My advisor was informative and encouraging, addressing my questions and providing valuable insights. Despite challenges, the funding received will boost Technicoat’s production efficiency and cover startup costs. Besides, the external confirmation of my business idea’s viability is a significant reward.”
Bhovinder Nagra, Business Adviser at First Enterprise – Enterprise Loans, comments: “Greg’s passion for his paint spraying business is evident, and working with such an enthusiastic entrepreneur has been a great pleasure. Observing the evolution of Technicoat from its initial concept to a successful kickstart has been truly fulfilling.”
First Enterprise – Enterprise Loans is an official Business Support Partner for the British Business Bank’s Start Up Loan Scheme within a network of business support partners, delivering Start Up Loans across the East Midlands, South East Midlands and West Midlands.
Richard Bearman, Managing Director of Small Business Lending, British Business Bank commented: “Greg’s story showcases strong business and family values, as well as a good entrepreneurial spirit and a passion for his work.
We are proud to support him along his journey and I look forward to watching him use the support from First Enterprise – Enterprise Loans to make Technicoat a major success.