Lambretta Lee delighted to be one of first for new funding
16th February 2017
A GRIMSBY business is revving up for growth as one of the first to benefit from a new fund-finding service.
Lambretta Upgrades approached recently-launched Investment Hub NEL, having failed to win support through traditional routes.
Now a £20,000 business loan has been secured, allowing owner Lee Chambers to buy four scooters and new tooling to enhance his pride and joy.
Specialising in repairs, parts, customisation, strip and rebuild, the former industrial roofer started turning a hobby into a career nine years ago.
"To turn a passion into your job is everyone's dream," he said.
"I had a Lambretta back in the eighties, then moved on to cars. Family and everything else came along, and while I was always interested in the, I could either not afford one or didn't have the time."
Starting with forays into the rebuilding of them in his garage, after six years he took premises on Grimsby's South Humberside Industrial Estate, where he has operated from since 2014.
He sends parts internationally from the Estate Road 6 workshop, and has clients all over the UK when it comes to service and repairs.
The money was required as he looked to push it further on.
"I needed to increase the stock I held and I was struggling for funding. It really was a struggle," he said, having been turned down by the banks.
"The business needed an extra kick to move it on, and within a couple of weeks of making the approach I had an agreement, and a week later it was granted."
He was introduced to the finance provider by the team, set up in November and sponsored by North East Lincolnshire Council.
He is now building towards purchasing a larger van to enable him to provide a pick-up service for break-downs.
"Offering a roadside service is something I am working towards," he said.
Jane Cusse, business referrer at Investment Hub NEL, said: "This is exactly what we are for, if businesses are struggling to access funding themselves. We have had a lot of enquiries, from new start-ups to businesses turning over £15 million."
News Courtesy: www.humberbusiness.com