Clitheroe-based Loxta Hardware has secured a £50,000 investment from Business Finance Solutions (BFS), which will be used to fund major expansion plans.
The company was established in 2012 by founder and director Shaun Singh, who was driven to design his own range of the door hardware products after extensive experience in the sector.
He has since developed more than 100 ranges.
The investment, facilitated by NPIF – BFS & MSIF Microfinance – a product fund managed by BFS in partnership with MSIF – is part of the Northern Powerhouse Investment Fund (NPIF).
Loxta will use the NPIF funding to design and manufacture architectural ironmongery and door hardware across its existing lines. The company will also purchase additional stock and launch new products to spearhead its entrance into the export market for the first time in 2018, focusing on Europe and the Middle East.
Singh said: “We created Loxta to bring a new era of exceptional engineering to the interior hardware industry and BFS were immediately able to see the national and global potential of our products.
“We have immediately invested the funds in the development of a full range of new door fittings solution and as a result we are able to really develop both our trade client base and our export strategy.”
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