British Business Bank is backing Sheffield firm

GWE Ltd, Vince Cable is shown around by MD Wayne Cramer
GWE Ltd, Vince Cable is shown around by MD Wayne Cramer
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Business Secretary Vince Cable visited a Darnall business now flourishing thanks to a loan supported by the Sheffield-based British Business Bank.

GEW Energy, set up by ex British Steel apprentices Wayne Cramer, pictured, and Ged Hebdige 20 years ago, designs and manufactures energy optimisation kit that cuts energy bills. The firm borrowed £50,000 in October from peer-to-peer lender Funding Circle, which had a £40 million investment from the BBB.

Wayne Cramer told Dr Cable of his long battle to borrow from traditional banks and his initial wariness of Funding Circle. “It sounded too good to be true. But I applied online, lenders started bidding and within three hours I had the money.”