Family-run Hull firm founded in 1940s set to expand after securing £60,000 funding
Founded in 1945 by James O’Neill, J O’Neill & Co provides services across the East Riding of Yorkshire.
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Hide AdNow led by Ben Hicks, grandson of one of the original team members, the business will use the funding to meet increased demand and purchase new equipment which it said will improve profitability.
The firm said the funding will also help create six new jobs and safeguard 30 existing positions.
Mr Hicks said: “This funding marks an important milestone for J O’Neill & Co as we continue to build on our 80-year legacy. It will allow us to invest in new equipment, meet growing demand, and create valuable job opportunities for the local community.”
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Hide AdJ O’Neill & Co secured the loan from Northern Powerhouse Investment Fund II (NPIF II) – BEF Smaller Loans, which is managed by Business Enterprise Fund (BEF) as part of the Northern Powerhouse Investment Fund II, and BEF’s CIEF2 fund backed by Lloyds Bank and Better Society Capital.
The £660m NPIF II covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help small and medium sized businesses.
J O’Neill & Co is one of the first businesses in the Humber to benefit from a NPIF II Smaller Loan since the launch of the fund in March 2024.
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