Attic Visited by the Department of Business
Attic Self Storage welcomed a visit from the Department for Business, Innovation and Skills on the afternoon of Friday, January 29th 2010.
The visit was attended by Adam Jackson (Director, Enterprise Directorate), Emma Squire (Deputy Director, SME Finance Policy) and Paul Green (Director, Credit Insurance) amongst others. Gary Moore (Regional Director) was also in attendance, heading up a contingent from Lloyds TSB Bank plc.
Attic successfully refinanced in 2009, raising an additional £565,000 to fund the expansion of the business and working capital requirements. The entire balance was debt-funded by LLoyds TSB Bank plc, making full use of the existing Enterprise Finance Guarantee scheme.
Following the successful fit-out, which added almost 50% of additional capacity to Attic’s site in Bow, East London the Department for Business was keen to see the effects of the EFG in action on the ground. Frederic de Ryckman de Betz, Managing Director of Attic, said “This visit presented us with a fantastic opportunity to speak to the architects of the EFG scheme, and to provide feedback on how the scheme worked in practice. In addition, the team from DBIS was clearly very interested in the general challenges we face as a business on a day to day basis, and how these might best be tackled – such as sourcing quality applicants for new positions, for instance.”
The meeting was seen as a success by all, and feedback from both DBIS and LLoyds was extremely positive. “Frederic is a natural speaker” said Gary from Lloyds. “Following an extremely well received presentation at one of our regional banking forums, we felt confident he could articulate the key aspects of how the EFG worked in practice to DBIS, and he didn’t disappoint.”