Finance for the £50m Growth Loan Fund – which provides loans to established Northern Ireland SMEs seeking to access growth finance – has been provided by Invest Northern Ireland and private investor, Northern Ireland Local Government Officers’ Superannuation Committee (NILGOSC).
Company Director, Kyle Lunn had a few words to say regarding the funding: “Over the past 18 months the business has developed two new products. Click – a web based practice management system aimed at single practitioners and Pronto – a communications hub that will provide industry wide solutions within the whole rehabilitation market. Our product suite also includes the Caseflow case management system which integrates with our other products to enable an industry-wide platform to transform efficiency at all levels and improve the patient journey.
“We believe that when Pronto launches it will become an industry standard providing data transfer mechanisms and services for all sectors of the rehabilitation market.
“We have contracts with numerous large organisations including Nuffield, Capita, private medical insurers and some of the largest networks of clinics in the country and we hope to add to this high level clientele in 2015.”
Mr Lunn further outlined the future plans for Blue Zinc: “We expect significant growth in all areas of the business over the next three years. We have recently secured new contracts with key players in the rehabilitation industry and we are also exploring our next geographic market.”
Senior Investment Manager, WhiteRock Capital Partners, Neil McCabe said: “Blue Zinc software is being used globally and we are pleased to support a company with such a strong focus on R&D and innovation.
“At WhiteRock we are keen to support companies from all sectors and Blue Zinc is a perfect example of a company that shows great potential for future growth.”
WhiteRock Capital Partners LLP was established in 2012 to manage the Growth Loan Fund by the consortium of three partners – Strathtay Ventures Ltd, NEL Fund Managers and Clarendon Fund Managers, all of which are authorised and regulated by the FCA.
Companies seeking funding from the Growth Loan Fund must be based in Northern Ireland, demonstrating growth potential and generally be in the manufacturing, engineering or tradable services sectors. Loans will be typically unsecured and personal guarantees will not be sought.
The loans provided are expected to be complementary to existing sources of finance, including banks, trade finance sources and equity investors. Loans are provided on a fully commercial basis, with monthly loan repayments required over typically a five-year term.