A Birmingham-based precision engineering company that specialises in the design and manufacture of safety-critical products for the marine industry has won a string of naval contracts with support from the new Birmingham Small Business Loan Fund (BSBLF).
Administered by ART Business Loans (
www.artbusinessloans.co.uk) and supported by Birmingham City Council, the Thin Cats peer lending platform and the Unity Trust bank, the BSBLF provides loans up to £100,000 for small to medium-size businesses (SMEs) that are unable to obtain the finance they need from High Street banks.
A BSBLF loan gave KPM Marine the working capital it needed to take advantage of growth opportunities presented by recent shifts in the value of sterling.
Joint managing director Julian Morgan said: “We can find ourselves competing with some of the world’s largest manufacturers, and we win contracts because we offer a unique product or the best quality — or because we have the capacity to design and quickly create something that precisely meets a customer’s needs.
Almost all of our supply chain is based in Birmingham, which is not only good for the local economy but also gives us greater flexibility, faster response times and better control over quality than sourcing products and materials from
the Far East.”
Julian’s business partner, John Key, said: “We moved into the marine sector around 15 years ago and have developed our product range to include bilge pumps, engine re-ventilation systems, shock-mitigating seating systems and interior fit-out modules.
“We are delighted to have won naval contracts on both sides of the Atlantic and in Europe. Our latest success is as part of the supply chain providing a fleet of up to 38 work-boats to support
HMS Queen Elizabeth.”