Rosebud fund supports Chorley-based business
Chorley-based engine performance tuning business, Tunit, has received a five-figure loan from Lancashire’s Rosebud fund, managed by GC Business Finance, to support growth by hiring two new staff members.
Founded in 1998, Tunit provides engine enhancing systems for domestic individuals and corporate customers. The firm provides systems for small and large vehicles, with a focus on cutting emissions and costs for the user. With twenty core members of staff, Tunit is an established leader in performance tuning.
Since receiving the loan, Tunit has recruited an account manager to strengthen relationships with existing customers and secure new business for the firm. It has also complemented its sales and marketing team by hiring a digital marketeer to raise brand awareness and attract new customers. Tunit plans to use the rest of the loan to recruit a further two employees in Spring 2021.
The five-figure loan represents the second round of funding that Tunit has received from Rosebud. In December 2019, Tunit received a further £25,000 which resulted in the creation of four jobs and funded a targeted marketing campaign.
Michael Bromley, managing director at Tunit, said: “Returning to Rosebud seemed like the right option for us, as the support we received the first time around was unparalleled. Jonathan and the team at Rosebud helped us identify areas where a loan would enable us to unlock growth and create new jobs. We are delighted to have used the loan to do that by retaining our customer-base and attracting new clients.
“We are moving into emission-saving systems, with a focus on making trucks and busses more energy-efficient in partnership with various councils across the region. Thanks to Jonathan, we are able to support our region to become greener and to continue growing during what has been a difficult time for many businesses.”
Jonathan Nelson, senior loans manager at Rosebud, said: “It was great to see Michael return to Rosebud for a second round of funding. We really enjoyed working with him to identify where Tunit needed funding, and what the loan would be best used for. It is always pleasing to see new jobs being created for people in Lancashire, especially in roles with real longevity in mind, and the two new members of staff at Tunit are a testament to this. For Tunit to be so ecologically conscious is a real bonus, and we are excited to see what is next for the business.”
County Councillor Michael Green, cabinet member for Economic Development, Environment and Planning, Lancashire County Council, said: “The Rosebud fund is a fantastic scheme that not only supports Lancashire-based businesses such as Tunit, but also supports the wider Lancashire economy. Rosebud creates valuable employment opportunities for the people in our region, and that’s why we support it at Lancashire County Council.
During a period when it can be difficult for firms to gain funding from traditional providers, Rosebud is an invaluable source for businesses who are continuing to grow and move the region forward. I am particularly pleased to hear that this business is making use of our Rosebud fund to reduce vehicle emissions and to support Lancashire to become greener.”