Time Finance has provided a £75,000 asset finance facility to help Shetland-based R.A.M Knitwear buy a new Shima Seiki knitting machine.
The knitwear designer and manufacturer said the new machine would support its growth plans by increasing production capacity and allowing the business to broaden its product range.
R.A.M Knitwear designs and produces bespoke knitted products using surplus yarns from luxury materials including Merino wool, silk and lambswool.
The business said the machine had also enabled it to move to larger premises and develop an additional income stream by teaching knitting skills to local people and tourists.
The investment comes ahead of the Shetland cruise season and Shetland Wool Week, both of which bring visitors to the island.
Roisin McAtamney, founder of R.A.M Knitwear, says: “This machine has been a lifesaver. This is the first time I’ve used Asset Finance to help fund my business, and while the prospect can be daunting at first, I’m so glad I did it.
“To have the peace of mind of using a new machine has been so worthwhile, and the process was great. Andrew Maude at Time Finance explained everything and made it so straightforward.
“I’d definitely recommend Asset Finance to other business owners, it’s the best way to do it!”
Andrew Maude, regional sales manager at Time Finance, adds: “It was a pleasure to help R.A.M Knitwear secure funding for their knitting machine.
“Businesses thrive when they have access to the equipment they need to grow, and we feel strongly at Time Finance that business owners should have access to the best equipment at affordable monthly repayments.
“I’m looking forward to seeing how this machine helps R.A.M to grow and thrive.”
