Business Solo Building Supplies
Location Longrock, Cornwall
Fund South West Loans Fund and Regional Growth Fund
Local builder’s merchant, Solo Building Supplies was founded by Andrew Dommett in 2008 with 10 employees. With over 20 years’ experience in the sector, having previously run Cape Building Supplies in St Just, Mr Dommett wanted to move away from just running a building supplies company and create his new business as a brand.
The company turnover had grown steadily from 2009 until 2014 when the business approached SWIG Finance for funding.
With ambitious plans for business growth the company was successful in accessing a combined funding package of £280,000 from Lloyds Bank and SWIG Finance in August 2014. Solo Building Supplies successfully received funding via the South West Loans Fund, part-financed by the European Regional Development Fund for businesses with growth potential which are unable to access funding from commercial sources as well as the Regional Development Fund.
Mr Dommett said: “The investment has enabled us to grow our team to 31 employees as well as expanding our operation.
“The help we had from SWIG Finance and Lloyds Bank was invaluable and we’re really pleased with the growth of the business so far and hope to continue to move the business forward in the future.”