LCE support was "perfect solution" for software and technology provider

Since it was launched in April 2022, the Local Communities and Enterprise Fund, part of the Warwickshire Investment Fund and delivered by Coventry & Warwickshire Reinvestment Trust on behalf of Warwickshire County Council, has lent just over £4.1million to 68 businesses. One of those business is CAE Tech, an innovative Leamington-based software and technology provider. Here the business explains how the LCE Fund support has been so beneficial.

Why did you choose the Local Community and Enterprise Fund (LCE)?  

“As an SME our finance needs combined cash flow, capital expenditure and investment in growth. Our experience with banks is that these mixed needs are not considered, luckily CWRT has a more considerate and holistic approach. The Local Community and Enterprise Fund was the perfect solution for our situation and is helping us to expand our existing projects and put our growth plans into practice.” 

How did it help you? 

“LCE is allowing us to start developing new industrial hardware. New improvements have added value to the current clients, increased clients trust, and helped us secure future projects. The new equipment has helped us to define a clear path to our objectives: bridge the gap between design and manufacturing and make mass customisation achievable and accessible. 

Conclusion 

“LCE is a great option for businesses that might not be able to access finances through banks. You shouldn’t shy away from LCE just because of the interest rates as it can help your business expand immensely. If you lack security, CWRT might be able to offer the Recovery Loan Scheme alongside LCE to help you secure finances.”