SPB moulds future with funding boost
Engineering company SPB Moulds has secured a five-figure loan from Michelin Development. The Stoke-on-Trent-based company said it would use the finance to create four new roles and purchase new machinery.
SPB Moulds said it will take on three full time engineers and create an apprentice role later in the year.
After being granted the cash boost from Michelin Development, which provides loans to businesses across North Staffordshire, SPB Moulds said it has new orders in place and expects to double turnover by the end of the year.
Mike Cole, Michelin Development director, said: "With the demise of organisations such as Advantage West Midlands and Business Link, we are beginning to take on the mantle of last man standing as a remaining source of funding for businesses in the region.
"It is, however, a responsibility we are happy to bear and as these other funding providers shut up shop, we are keen to reiterate to new entrepreneurs and existing businesses in North Staffordshire that we are still open for business."
