GMLF invests £500,000 in a leading supplier of design-led furniture
The Greater Manchester Loan Fund, managed by Maven, has completed its 32nd deal investing £500,000 in Manchester-based LOFT Interiors (LOFT), a leading supplier in furniture solutions for the residential property sector. Funding will be used to support the continued development of LOFT’s operations, product, and team, to facilitate growth opportunities in existing and new markets. With over 80 staff already operating from LOFT’s offices in Manchester and London, the investment is expected to create eight new jobs in the region.
Founded in 2003, LOFT supplies design-led furniture and accessories to the Build to Rent (BTR) and Build to Let (BTL), with its key clientele ranging from landlords and estate agents, to large scale installation projects such as student accommodation developments. LOFT Interiors provides a one-stop solution, including delivery, assembly and installation. Its flexible and tailored service caters for all price points, from every-day durable products, through to high-end modern living.
LOFT’s Co-Founder and Managing Director, Benjamin Hall, has spent 15 years growing the business with his Father, Co-Founder and Director, Robert Hall. LOFT has evolved to become one of the most recognised suppliers of bespoke furniture solutions across the North West, working with some of the biggest developers and contractors in the property sector.
“LOFT is an established, dynamic business and Ben and his team are driven and passionate individuals, focused on the exciting future growth opportunities in their markets. We look forward to working with LOFT to assist their ambitious growth plans. A significant investment for the Fund, GMLF has now invested over £15 million to support the creation of over 400 jobs in the Greater Manchester area. We continue to actively encourage local businesses with exciting growth plans to get in touch with the Maven team.”
Gavin Bell, Investment Manager at Maven
“I am proud to have taken the company from start-up to a turnover of £10 million in 15 years using just a £15,000 student loan as start-up capital. There is a growing demand in our target markets for a design-led approach and we will continue to evaluate the needs of both developers and end users to evolve the products and ensure the growing range meets their requirements. The investment from Maven will allow LOFT to invest in our brands and support the company on its growth trajectory.”
Benjamin Hall, Managing Director of LOFT
"Greater Manchester has always led the way in driving innovation, manufacture and construction – we are the birthplace of the Industrial Revolution, after all. We pride ourselves on working with new ambitious and creative new businesses and industries to help them flourish. Through the fund and the investment announced today, we are demonstrating Greater Manchester’s ambition and commitment to doing things differently, working with local firms to help them grow and create jobs and opportunities for local people.”
Mayor of Greater Manchester Andy Burnham