Success stories
Social enterprise success
Tuesday 2nd February
Ensign Energy Limited has gone from strength to strength thanks to a loan from Business Investment Deals (BID), managed by Lancashire County Council as part of the No Limits programme.
With help from the funding, the business, based on Neptune Street in Burnley, which addresses environmental issues and installs cutting edge technologies to both domestic and commercial customers, has won several contracts and importantly created jobs.
The BID programme offers 'soft' loans of up to £10,000 to social enterprises who bring their clients or carers into the No Limits programme. Up to 80 per cent of the loan can be repaid in the form of referrals or outputs and 20 per cent by cash repayments.
BID is part of the No Limits programme, a Government funded initiative aimed at stimulating enterprise in Pennine Lancashire's deprived communities.
Director Richard Jones said: "It is now recognised that we need to think of ways we can improve the environment and save money and I started this business to do exactly that. The loan enabled the business to grow and to gain important contracts which has helped me provide four jobs for young people in this area.
"This is a clever financing solution that allows social enterprise businesses repay the majority of the loan back by delivering more services to the community."
County Councillor Tim Ashton, Cabinet Member for Environment and Planning said: "By accessing this loan Ensign Energy have been able to start and grow a business that is at the forefront of renewable energy technologies whilst also providing training opportunities and work placements, improving the skills base and providing real employment opportunities for young people."
No Limits is a partnership which includes Lancashire County Council, the local authorities of Blackburn with Darwen, Burnley, Hyndburn and Pendle as well as Burnley, Accrington Stanley and Blackburn Rovers Football Clubs. In almost three years, No Limits has helped grow over 1200 businesses, with 1000 new business starts. It has created or safeguarded over 3000 jobs and leveraged well over £9M of private sector investment.
For further information on loans to social enterprises and how No Limits can help to start and grow your business call freephone 0800 612 2029 or visit www.no-limits.org.uk.
To find out more about Ensign Energy Limited call (01282) 421489, email richard@ensignenergy.co.uk or call in at 3-4 Clock Tower Mill, Neptune Street, Burnley BB11 1SF.
For the latest information on business support available call Lancashire County Council's helpline on 0845 053 0000.
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