Cooltec secures £40,000 in funding

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A York-based company specialising in air conditioning and refrigeration technology, has attracted a £40,000 business loan from Finance Yorkshire.

Trading from Elvington Airfield Industrial Estate, Cooltec Services supplies and installs fridges, walk-in cold rooms, freezers, refrigerated chillers, cellar cooling systems and ice machines. The company also offers a repair and maintenance service to clients such as Castle Howard, Flamingoland, York Minster, Stonehouse Projects, Marriot Hotels and Best Western.

Managing director Simon Walton bought the company, which employs four people, in 2008.

He said: “Having recently acquired a complementary business, Hotelware Supplies, we are looking to a solid future, but it inevitably means working capital is needed. This business loan from Finance Yorkshire will enable us to invest.”

Finance Yorkshire provides seedcorn, loan and equity linked investments, ranging from £15,000 to £2m to help small and medium-sized businesses meet their funding requirements.