Manchester business receives six-figure loan from The North West Fund for Business Loans
The North West Fund for Business Loans, managed by FW Capital,
has now lent over £8.5 million to businesses in the North
West. Manchester-based Eternity Football is one of the latest
to benefit from a loan as demand for loans from the Fund increases
throughout the North West.
More than 50 loans have so far been made to established
businesses in the manufacturing, engineering, wholesale,
construction and business services sectors with more in the
Since December 2010, The North West Fund has made over 120
investments totaling £30 million. The funding is provided
jointly by the European Regional Development Fund and the European
FW Capital Fund Manager, Gary Guest, said: “The North West Fund
for Business Loans is continuing to prove popular with businesses
across the North West. Our flexible lending criteria are
really attractive because our loans can be used for working capital
as well as capital purchases. We’ve met some interesting
businesses and I’m pleased we’ve been able to come up with loans to
support their growth.”
Sports fashion brand, Eternity Football (Eternity) has received
a six-figure loan which has provided the company with the capital
to purchase the stock it needs to expand and also to take on more
staff to cope with the extra demand.
Old Trafford-based Eternity designs manufactures and distributes
under licence sports fashion apparel to football clubs and other
professional sports operations.
Eternity currently supplies over 45 clubs in 13 countries and
its client list reads like a ‘who’s who’ of top names such as
Athletico Madrid, Chelsea Villa, Bayer Leverkusen, Rapid Vienna,
Lokomotiv Moscow, Montpellier, AS Roma and Tottenham Hotspur.
Neeraj Takiar, Managing Director of Eternity, said: “Football is
a way of life for many loyal fans who are proud to sport their
team’s colours. We create unique fashion and lifestyle
collections for our clients in line with fashion products found on
the high street.”
“The clubs’ demand for our collections is really high because we
understand the end consumers’ requirements and act as consultants
to our clients to help them increase their merchandise and licence
revenues, as well as increasing their brand footprint.
“Our order book is buoyant and we’re continuing to secure new
business. This loan will give us the capital we need to
fulfill new orders and strengthen our position in the market and
move into new markets,” Takiar continued.
Phillip Hargreaves explained why FW Capital was a keen to lend
to Eternity: “Sports fashion is increasingly popular with
style and value-conscious consumers of all ages. Eternity’s
designs appeal to fans and consistently sell well. Its
existing client list is already impressive and we look forward to
seeing more well-known names being added to it as the company
The North West Fund for Business Loans continues to make loans
of between £50,000 and £250,000 to businesses in the North
West. FW Capital is working with banks and SMEs on a wide
range of funding requirements such as: stock purchases; capital
expenditure to fulfill new orders; purchasing owner-occupied
premises as well as helping banks with LTV constraints.
John McGuire, interim chief executive of North West Business
Finance, the not-for-profit company set up to deliver The North
West Fund, said: “This latest deal illustrates the success of The
North West Fund for Business Loans as a valuable source of debt
finance for SMEs in the region.
“Our investments, at The North West Fund are creating jobs and
growth at a vital time for the region’s economy and we remain
committed to inspiring the North West’s entrepreneurs.”
*The North West Fund for Business Loans has now been replaced by
The North West Fund for Loans Plus.