A NEW South Tyneside business has the financial muscle to expand after securing a £16,000 loan.
Radical Strength and Health Ltd is moving to new premises, and planning to take on staff after owner Stephen Williams acquired capital through the North East Microloan scheme.
Jarrow-born Mr Williams, 44, had worked as a personal trainer for several years before deciding to strike out on his own.
He said: “I’d worked in London as a personal trainer for eight years, but lots of the gyms wanted me to concentrate on quantity, rather than quality. I finally decided to launch my own business and acquired a space at Monkton Business Park, Hebburn, where a friend runs a company.
“But now I’m moving to Burrow Street, off Fowler Street, South Shields, where I aim to take on a coach, and eventually open other centres in the North East.”
But Mr Williams’s business plans were initially hampered by a lack of finance until he approached Lateral Financial Management Ltd.
Michael Hall, director of Lateral, said: “Due to the lack of trading history, the company was unable to secure mainstream bank finance, and so we supported Steve in pulling together a sound business plan to approach Entrust for support, via the North East Microloan Fund.
“As a result of the viable business model, and a credible proposition, the expansion capital was promptly agreed, and will allow this new business to fully commit to its exciting growth strategy.”
Radical Strength and Health Ltd is building up its client base, with customers receiving specialist weight training classes.
Mr Williams added: “Some of my clients want to lose weight, some want to build muscle and others simply want to feel better about themselves.”
Contact 0788 640 4473 or visit the company website at www.radicalstrengthcoach.com.