Member Article

Durham software firm buys up own premises with Funding for Lending cash

Durham-based Indigo Software has bought its own premises using a £400k loan, ahead of a new product launch.

The business, which employs 31 members of staff has acquired its 10,000 sq ft home on Durham’s Belmont Business Park, where it has operated for over ten years.

The firm’s latest warehouse management software - Indigo WMS - has launched into the market as part of the growth plan.

Indigo have used a £400k loan from Lloyds Bank Commercial Banking, secured under the Government’s Funding for Lending Scheme, to buy the building.

Peter McLane, managing director of Indigo Software, said: “When the building unexpectedly came up for sale it provided us with a great opportunity to both secure our long-term position in the region and to provide some extra revenue to the business by letting out the extra floor.

“Our new software was developed in response to the changing needs of the marketplace, and can be used by customers to paperlessly track huge volumes of stock globally, and on a much wider variety of ERPs. As part of our plan to keep growing in 2014 we’re also continuing to develop new products to help keep us ahead of the competition.”

Nic Franklin, relationship manager for Lloyds Bank Commercial Banking, said: “These latest developments are great news for Indigo Software, which is a superb business that has shown that there are still opportunities to grow a company even in challenging economic conditions.

“We’ve worked closely with Indigo Software to offer funding packages tailored to their specific needs and to ensure that the company has had access to the support it needs for this and future opportunities.

“We’re constantly looking to support strong businesses across the country, and as part of Lloyds Banking Group we’ve helped around 65,000 start ups since January 2013, and through the FLS customers across all sectors receive a one per cent discount on all new loans.”

Indigo’s clients include Puma, Greene King, Regatta ad Jacuzzi.

This was posted in Bdaily's Members' News section by Tom Keighley .