TronixFishing, a fishing tackle company located in West Sussex, has secured £250k in funding for business expansion with support from First Enterprise – Enterprise Loans through the Big Society Capital (BSC)’s Community Investment Enterprise Facility (CIEF) and First EnterpriseEnterprise Loans (FE-EL) fund backed by the Recovery Loan Scheme (RLS) 

TronixFishing is a company specialising in fishing tackle and accessories. It offers a wide range of products for various fishing styles and techniques. With a focus on quality and innovation, TronixFishing strives to provide anglers with reliable and effective gear. They have a team of experienced anglers who test and develop their products. Tronix Fishing is committed to customer satisfaction and helping anglers achieve success on the water. 

George Cunningham, Founder of TronixFishing, was a plumber from West Sussex, who stumbled upon the angling business when he received a package of fishing components. Recognising their potential, he started selling them in local tackle shops, leading to the birth of TronixFishing. The company quickly grew, prompting George to leave plumbing behind and focus solely on his innovative angling venture. 

The funding from First Enterprise – Enterprise Loans has been used for the expansion of the company, including the creation of three new jobs and the investment in working capital facility. 

First Enterprise – Enterprise Loans provides government-backed business loans ranging from £500 – £250,000 for start-ups and SMEs that are unable to borrow from traditional high-street lenders. The not-for-profit organisation reinvests profits into loan funds to further support economic growth and job creation in the local communities. 

George Cunningham, Founder of TronixFishing, commented: “The funding we received from First Enterprise – Enterprise Loans has helped us expand our business in the Midlands and North of England. The finance provided enabled us to hire an experienced salesperson within the territory, provide him with transport, adequate stock levels and logistical items required to do the job. The territory has the potential to be our largest market and the funding has enabled us to hire the right person for the job to really drive the business in this untapped area.” 

Matthew Wright, Investment Manager at First Enterprise – Enterprise Loans, commented: “I am delighted to have assisted TronixFishing in expanding their business with the funding they need. Their innovative products and commitment to customer satisfaction impressed me. The investment has created jobs and enabled them to tap into untapped markets, which contributes greatly to local economic development.” 

Brian Henderson, Investment Manager at Social Investment Scotland (SIS), commented:“Micro enterprises and small businesses play a huge part in the UK economy supporting local jobs in all areas of the country, but many face difficulties in securing funding from mainstream sources. Since 2018 SIS has been supporting socially motivated lenders and Community Development Finance Institutions to help businesses like TronixFishing to grow and thrive.”