A Sheffield metal distributor is planning to expand and take on more bespoke projects after receiving £600,000 from HSBC.
Broder Metals Group, a specialist stock-holder of a wide range of metal products, moved to HSBC in January after the six-figure funding package was agreed with the bank’s new corporate banking team, set up to support mid-sized businesses in South and West Yorkshire.
The new funding will enable Broder to secure larger bespoke contracts by covering the cost of materials.
Mark Burton, MD of Broder Metals Group, said: “We offer knowledge, enthusiasm, expertise and a wide ranging mix of metals and metal products.
“We are keen to expand by taking advantage of new opportunities and HSBC’s new corporate team was there to help.
“The funding will enable us to tender for larger contracts confident in the knowledge that the funding is available.”
David Beaty, regional director of corporate banking for the North, said: “The contribution of MMEs has been underestimated for too long.
“Companies like Broder Metals Group are ambitious and innovative, and I am delighted that our new corporate team was able to support Broder. We look forward to supporting other dynamic MMEs across South and West Yorkshire.”
A HSBC-commissioned study, Hidden Impact -The vital role of Mid-Market Enterprises, recently revealed that such enterprises in South and West Yorkshire are powering the economy much more than previously realised.
The two regions contribute more than twice as much in economic output as the entire financial services industry.