A YORK family run power tool specialist is continuing to compete with its national counterparts as it sets out on a new sales drive following a £30,000 funding win.

Elcocks Limited, which sells, hires and repairs power tools to the trade from its headquarters in Fulford's Hospital Fields Road, has secured the five-figured loan from Finance Yorkshire.

The business is headed by brother and sister partnership Andrew Elcock and Claire Bedford, together with their father Ivan and was established in 1971 by their grandfather, Claude.

From premises in Goole and Driffield as well as is head office in York, Elcocks serves a 700-strong customer base including Shepherd Group, Portakabin, City of York Council and Network Rail.

The £30,000 funding boost from Finance Yorkshire will provide additional working capital to refine the firm’s sales and marketing strategy to further growth.

Commenting on the investment, Elcocks director Ms Bedford said: "We are always looking at ways to boost sales and improve our service and the funding from Finance Yorkshire will be vital in allowing us to create two new roles within the business: a sales rep and a trade counter assistant.”

Martin Bell at RedSky supported the team at Elcocks in securing the Business Loan.

Finance Yorkshire investment manager Ian Atkinson said: "Elcocks remains very much a family business which prides itself on first class customer service and this has enabled it to compete with names such as B&Q and Screwfix.

"We are pleased to support the team as they continue to grow and create new jobs close to 50 years since the business was formed."

To date, Finance Yorkshire has invested more than £105 million in Yorkshire and Humber, enabling companies to increase their turnover by £377 million and attract a further £273 million from other private sector sources. Through this activity, Finance Yorkshire investment has helped those SMEs to create and safeguard more than 12,000 jobs in the region.

Finance Yorkshire chairman James Newman said: "Elcocks is one of many hundreds of companies across Yorkshire and Humber that have received Finance Yorkshire support at an important point in the life cycle of their businesses.

"Our investments have enabled these companies to achieve their ambitions and become successful and vital contributors to the growth of the Yorkshire and Humber economy – an achievement of which Finance Yorkshire is very proud."

Finance Yorkshire provides seedcorn, loan and equity linked investments, ranging from £15,000 to £2 million.

The project is supported financially by the European Union. It has attracted investment from the European Regional Development Fund (ERDF), as part of Europe’s support for the region’s economic development through the Yorkshire and Humber ERDF Programme, UK Government and the European Investment Bank. Finance Yorkshire is also supported by the Regional Growth Fund.