SWA plans expansion with funding package
SWA, a Thurmaston-based training and consultancy company, has secured a funding package from the Royal Bank of Scotland (RBS). SWA, which has secured three new contracts worth more than £1m, said it hopes to expand its workforce with the investment.
The funding from RBS was secured under the government’s enterprise finance guarantee (EFG) scheme.
The details of the funding package were not disclosed.
SWA is run by Steve Walker, the current chairman of the Leicestershire IoD Young Directors Forum.
On the back of the contract wins, Walker predicts that the company will employs another five members of staff to meet the volume of work that will be generated. Currently, the company employs 14 people at its offices at Watermead Business Park.
The funding from RBS will help to increase the working capital support the company requires to meet the additional operational costs the new contracts require.
Walker said: “This is a tremendous start to the new year for us. It is really going to help our growth aspirations. Our total turnover last year was £400,000, but these new contracts will push us through the £1m barrier. We also can see this trend continuing over the medium term and our projections are that in the next 24 months we will be turning over close to £2m. I am very optimistic that 2011 will be our best trading year yet.”
