More business loans to boost employment

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Two more Midlothian-based businesses have secured new funding which is expected to result in an increase in the number of people they employ locally over the next 3 years.

Taylor Plant Hire Ltd

Based at Castleton Sawmill, Gorebridge, the company provides an operated plant hire service for tracked and wheeled excavators, hydraulic breakers and other heavy construction plant.

Incorporated in 2008, the company's main market is in the Central Belt. 

The loan funding will be used to expand into wider geographic markets and to invest in additional plant and fleet upgrades.

Current customers include Scottish Water and the Edinburgh tramline project. Taylor Plant Hire presently has a staff of 9 people and plans to create 3 new full-time posts.

Graham Schutte Interiors Ltd

With more than 20 years experience as a kitchen designer and fitter in Johannesburg, South Africa, Mr Schutte emigrated to Scotland in 2010 and has set up a new kitchen design and installation business based in Easthouses, Dalkeith.

The loan fund will assist Mr Schutte in developing his new business by investing in new computer design software, developing the company website and investing in new marketing and exhibition materials.

The business plans to recruit and train an additional 2 members of staff over the coming years, once capacity has built up sufficiently.

About the loan funding scheme

The loan funding scheme aims to overcome 'market failure' - ie where commercial lenders such as a banks are unable or unwilling to provide finance to businesses. 

Loan funding is provided through the East of Scotland Investment Fund  -  a consortium of  10 local authorities,  including Midlothian Council -  which aims to provide finance and encourage increased levels of entrepreneurship and business formation.