Industry: Construction
Product: Growth and Sustainability Loan Scheme (GSLS)
Facility size: €750k
The client
Established in Ireland in 2018, our customer specialises in supporting infrastructure projects through the provision of innovative process and technology solutions, including:
- Access to analytics, software and consultancy
- Performance and infrastructure monitoring
- Resource management
- Procurement
These services have led to significant growth for the firm, most notably in the construction sector.
The challenge
The business has, up to this point, self-funded any investment and growth but the experienced management team is now seeking to expand their ‘critical facilities’ services, particularly for local authorities.
The focus is to develop and maintain smart energy monitoring systems, which requires funding for the hiring of engineers, purchasing of hardware, and the creation of training and IT infrastructure for both internal and external use.
This will provide vital insight for their clients' carbon footprint and energy. Our customer monitors and optimises these systems to work more efficiently and at lower cost.
To achieve their goals, additional working capital was required to maintain cash flow to ensure minimal disruption to ongoing operations.
The solution
The experts at Close Brothers Commercial Finance provided a €750k Growth and Sustainability Loan.
The Growth and Sustainability Loan Scheme (GSLS) is established and offered by the Strategic Banking Corporation of Ireland (SBCI) and benefits from a guarantee that has been provided by the European Investment Bank (EIB) Group, with support from the Department of Enterprise, Trade and Employment (DETE) and the Department of Agriculture, Food and the Marine (DAFM).
The scheme provides SMEs with long-term financing to either encourage the growth and resilience of their enterprise or invest in climate action and environmental sustainability measures designed to improve their performance.
Four extra engineers have been hired, and the required hardware has been purchased thanks to this funding, with both existing and new clients benefiting from smart energy systems.
