Saturday, August 15, 2020

Loughborough fitness facility supplier secures six figure CBILS loan

ESP Fitness, a designer and supplier of sports and fitness training facilities, has embraced the challenges presented by the pandemic by transforming its business strategy with the support of a six-figure loan from HSBC UK through the Coronavirus Business Interruption Loan Scheme (CBILS).

Based in Loughborough, the business designs and installs training facilities and gym equipment. Before the pandemic, ESP Fitness focused on the commercial and pro-sport markets, where its clients include Manchester City FC; Liverpool F.C; The FA at St. George’s Park; the UFC Performance Institute in Las Vegas; Virgin Active and the Union Cycliste Internationale (UCI) World Cycling Centre in Switzerland.

ESP adapted to the changes in demand by pivoting its business from B2B to B2C to serve the home fitness market, where the demand for high-quality gym equipment has escalated in recent months. The business has used the funding from HSBC UK to help purchase larger quantities of stock to meet the surge in demand.

Since making fundamental changes to its business in March, ESP has completed over 40 home gym installations for clients including professional athletes Lewis Hamilton MBE; Mo Sala; Katarina Johnson-Thompson; Rio Ferdinand; Sir Chris Hoy and ex-SAS, Ant Middleton.

Dr. Vern Neville, Managing Partner at ESP Fitness, said: “The sports and fitness industry was put on hold as a result of Covid-19. All our customers had to close their operations so we adopted a new strategy to overcome the challenges presented by the pandemic and to meet the needs of the home gym user. We’re now expecting the home fitness market to grow even more as we see new trends come to the fore.

“I would like to thank our Relationship Manager at HSBC UK, Dan Pawar, who understood our ambitious plan and was able to provide funding in a timely manner as we quickly reacted to the demand.”

David Tomlinson, HSBC UK East Midlands Area Director, added: “HSBC UK is committed to supporting its customers during this period of uncertainty. The sports and fitness industry has been undoubtedly affected by the pandemic and the future still remains unclear. It’s great to see a forward-thinking and innovative business like ESP succeed in such challenging conditions.”

Over the past few months ESP has installed up to seven home gyms a week throughout the UK. Every home gym is designed by ESP Fitness and the equipment is manufactured locally in their factories in Leicester and Nottingham.

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 lockdown having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.






Latest news

£200k loan to see Corby care service open new facility helping disabled adults

A Corby care service for adults with learning disabilities has secured a £200k loan from the Midlands Engine Investment Fund (MEIF) Debt Finance, managed...

Amazon to create 1,000 jobs in East Midlands expansion

Amazon has announced plans to create 1,000 permanent jobs at a new fulfilment centre in Sutton-in-Ashfield as part of its expansion in the East...

Nottingham-headquartered financial adviser acquires counterpart

Palatine Private Equity-backed Wren Sterling has completed a deal with Corimar Holdings Ltd to purchase the assets of Frobisher Capital Ltd, an independent financial...

Plans approved for 400 new homes in Ripley

Construction work on new homes in the Derbyshire town of Ripley is set to begin after detailed plans for the scheme were approved by...

Time Out: Elliot Cook, Simple Marketing Consultancy

This week Simple Marketing Consultancy celebrated its 10th anniversary, so we caught up with Account Director, Elliot Cook, who joined the company four years...

Related news

Chance for Leicester businesses to get share of £2.6m in extended lockdown business grants scheme

Small and micro-businesses across Leicester which were forced to close during the city’s extended lockdown can apply for financial help under a new grant...

£200k loan to see Corby care service open new facility helping disabled adults

A Corby care service for adults with learning disabilities has secured a £200k loan from the Midlands Engine Investment Fund (MEIF) Debt Finance, managed...

Amazon to create 1,000 jobs in East Midlands expansion

Amazon has announced plans to create 1,000 permanent jobs at a new fulfilment centre in Sutton-in-Ashfield as part of its expansion in the East...

Nottingham-headquartered financial adviser acquires counterpart

Palatine Private Equity-backed Wren Sterling has completed a deal with Corimar Holdings Ltd to purchase the assets of Frobisher Capital Ltd, an independent financial...

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close