Ace Motorcycle Training in Durham faced closure when its main operating site was selected for redevelopment into a new retail park. But the 25-year-old firm has been saved after securing a £250k loan from specialist business lender Together.
Founder and owner Jimmy Rimmer explained: “We found ourselves in a really worrying situation. We had a limited time to find a new site, but even when we did, we encountered hurdles. Lenders, including our bank of over two decades, refused to help. In the current economic climate, they seem to have lost confidence in lending, despite us being able to demonstrate our profitability and assets. We were facing closure, which meant the loss of many jobs and the important service we offer the community.”
The new Ace training base at nearby Mandale Business Park offers rider tuition at all levels and also sells new and used bikes backed by a team of trained mechanics.
Matt Boggan, business development manager at Together, said: “Durham was set to lose a key business, affecting those looking to train in the area and costing many jobs. Ace is an important part of the community, a local, independent business, and it would have been a real shame to see it close. Rimmer and his team were facing a difficult situation. Having been let down by some other lenders, they needed fast and flexible finance. We were able to provide this, securing the loan against his personal property.”
Ace Motorcycle Training
0191 384 6404
www.ace-motorcycle-training.co.uk