Capital for Colleagues, an investment company that specialises in supporting employee-owned businesses, has loaned £300,000 to builders merchant Civils Store Ltd.
The proceeds of the loan will be used by CSL, which currently operates from depots at Penrith, Redruth and Sittingbourne, for working capital purposes.
The loan is for a fixed term of 12 months and bears interest at the rate of 15% per annum. The transaction follows the firm’s recent investment in Midland Construction Supplies Limited in April 2014.
Commenting on the loan to CSL, John Eckersley, CEO of Capital for Colleagues said: “With established UK-based operations and a commitment to incorporating employee ownership schemes, Civils Store Limited represents another compelling investment opportunity.”