Funding from Cattles Invoice Finance has enabled four Leeds-based entrepreneurs to set up their own sheet metal engineering business after the company they worked for, Metal Formers, went into administration.
Ian Taylor, director at newly formed Applied Metal Technology Limited, said: "When Metal Formers went into liquidation, it left the customers without a supplier. Although we did not have any experience of running the financial side of a business we decided to set up Applied Metal Technology to service our loyal customers as well as look at new opportunities in the marketplace."
In order to start up the business the team had to invest heavily in equipment, which left no working capital to fund the business going forward.
