09/05/2017

Drain cleaning company CG Pearce Ltd buys new equipment after £10,000 streamlined micro loan

Haverfordwest based CG Pearce Ltd is purchasing new equipment to keep pace with demand for their drain cleaning and survey services thanks to a £10,000 loan from Finance Wales.

The company applied for the loan through the newly expanded streamlined scheme. Companies who have been trading in Wales for two years or more can have a decision on a loan from Finance Wales between £1,000 and £10,000 within two business days. Over 60 loans have been agreed through the streamlined service since it launched in December 2015.

The family business has been trading since 1977 and offers comprehensive drain maintenance, cleaning and inspection services.
 
“We’ve seen a steady increase in demand for our services, this loan will help us buy new equipment to meet that demand and offer our services to more people and companies across Pembrokeshire and west Wales,” said Managing Director Emma Pearce, who runs the company alongside her husband Jamie.

“The money has helped us to purchase brand new, state of the art drain camera inspection equipment and the full refurbishment of two of our drain cleaning vehicles. The process was quick and very easy and David Knight could not have done more for us. It’s very reassuring to know that an organisation like Finance Wales is there to assist small businesses when we need that help”.

“Emma and Jamie run a very successful company,” said Finance Wales Investment Executive David Knight. “We’re glad we’re able to support a local family business with the finance they needed to buy new equipment.”

Fund Manager Nicola Edwards added: “We’re pleased that we’ve been able to extend our streamlined service to loans up to £10,000, helping small businesses like CG Pearce Ltd. We’ve completed 61 loans through this service to date, with an increase in applications since we extended the scheme from £5,000 to £10,000 in January this year.

“Being able to get a fast decision on finance is vital for many small businesses; this new service does just that with decisions made in just two business days.”