£30,000 boost for expanding training firm
A training company is using a five-figure investment from the North East Small Loan Fund to scale up and target new markets.
Oracle Training Solutions is aiming to double its turnover to around £1.5m and create up to ten new jobs over after winning the £30,000 investment through regional fund management firm NEL Fund Managers.
The firm is expecting to create three new jobs at its Birtley headquarters in the near future, is setting up a new logistics academy in Yorkshire to build on the work it already does in the county.
Oracle Training Solutions delivers a range of work-based learning training courses.
Subject areas include teaching, management, administration, logistics and hospitality, with each course being tailored to the individual learner’s particular needs.
William Fitzpatrick, managing director, said: “All our training is based round the strengths and needs of each individual.”
“The accessibility of the
Small Loan Fund was an important factor in choosing to go down this investment route and the face-to-face support we got from the NEL team was extremely useful.”
Part of the £120m North East Fund and aimed predominantly at smaller SMEs, the £9m North East Small Loan Fund typically offers loans of between £10,000 and £50,000 to businesses in Tyne & Wear, Durham and Northumberland.
Jonathan Armitage, investment executive at NEL Fund Managers, added: “Oracle has a strong track record and the investment we’ve made will support their growth ambitions by extending their operations into new areas.”