Press releases – April 2009

Sussex, April 2009: Sussex-based business, TRI-FAB Limited held a celebratory event today attended by Minister for Employment Relations, Pat McFadden, after successfully starting up a new business and saving 14 jobs, thanks to backing worth £270K from The Royal Bank of Scotland (RBS).

TRI-FAB Limited, based in Lancing, West Sussex, was set up by Kenny Walker, Mike Liddicoat and Mark Scott in December 2008 following the decision by the Kingspan Group to relocate their previous employer's Interlink Fabrications Ltd to Yorkshire in August 2008. TRI-FAB Limited specialises in architectural fabrications for the roofing and cladding industry.

The TRI-FAB Limited management team approached Relationship Manager at RBS, Greg Manton, for financial support in setting up the business. Greg introduced colleague Nicole Edwards from Lombard, the asset finance arm of RBS, who provided a bespoke funding package to allow the business to lease the machinery required to get the business up and running. The RBS team also worked with Matt Taylor in RBS Invoice Finance, who provided a factoring facility to fund working capital, and the facility has allowed the company to effectively manage its cash flow in the early set up period. To date, the company is already ahead of plan on its original projections thanks to new contract wins.

Kenny Walker, Managing Director, TRI-FAB Limited commented:
"We were confident from the outset that we had a loyal customer base, and securing the finance to get the venture underway was imperative to our success. In the current climate this can seem daunting to small businesses and we are grateful for the backing provided by RBS, who by working closely with us to really understand our needs, were able to provide an effective finance package that was tailored to our needs. We are also pleased that we have been able to resurrect 14 jobs."

Greg Manton, Relationship Manager, RBS commented:
"We were confident that this was going to be a successful business under the management of the Directors and are delighted to be in a position to provide vital support to a small business. We look forward to continuing working with TRI-FAB Limited moving forwards.

"RBS and its subsidiary NatWest remains focused on providing support through total financial solutions to SMEs in the current market. Our commitment to the Government to meet our SME commitments and drive an extra £3bn of lending to SMEs in 2009 remains strong, and £250million of this fund has been allocated to the South East region."