EG Fencing Solutions Ltd, based near Liskeard in Cornwall, was formed in 2007 by friends Lewis Elliot and Dan Goodman. It supplies and installs fencing and gate entry systems across the country. Recent projects include fencing for Stanstead and Gatwick airports, Hinkley Point power station, and a number of major roads and motorways across the UK.
Building on its success, the company recently purchased two new trucks worth £50,000 with help from Ignition via a Hire Purchase asset finance package, expanding its growing fleet to six.
The company has also taken the opportunity to secure a CBILS loan (Coronavirus Business Interruption Loan Scheme) worth over £200,000, making the most of the chance to obtain funds interest free for the first 12 months.
Lewis Elliot comments: “Lockdown was concerning at first, and we did furlough some of our workers for a couple of weeks, but we were soon as busy as ever. Most of our contracts are for key industries such as the road network and National Grid, so this work was essential and had to continue. However, we’re well aware that these are challenging and uncertain times, so felt it would be sensible to obtain a loan to provide us with greater financial security in the coming months.
“We’re also keen to continue expanding and strengthening the business and are actively recruiting more workers to help us fulfil new contracts, so the loan will help us to achieve this.”
Over the years, EG Fencing has worked with Ignition a number of times to finance vehicles for the business. Lewis Elliot continues:
“We have always found working with Ignition is painless, straightforward and hassle-free. They offer us competitive deals and can arrange finance quickly.”
Paul Caunter, Managing Director of Ignition, comments: “Lewis and his team at EG Fencing Solutions have been clients for many years, and it’s great to see the business continuing to grow and thrive. We’ll continue to do all we can to support them.”