Shetland Based Knitwear Company Acquires New Machinery with £75K Asset Finance Facility

Facility Type: Asset Finance, Hire Purchase

Region: Shetland

Facility Value: £75k

Introduction to R.A.M Knitwear

Our client is a knitwear designer and manufacturer based in Shetland, Scotland. Operating since 2020, R.A.M Knitwear create a range of knitted products using surplus yarns of luxury materials such as Merino Wool, Silk and Lambswool to produce bespoke pieces. Having had a love of fashion and design since her school days, R.A.M Founder, Roisin McAtamney trained in Glasgow, Philadelphia and Shetland, learning about the historical uses for fabrics and how to use the latest machinery to create her own designs. The knitwear is sold in the R.A.M Knitwear store in Lerwick, Shetland to locals as well as the islands cruise and wool week visitors, increasing demand for the bespoke designs.

How we helped

As part of Roisin’s passion for the knitwear industry, one thing that is important to her is teaching others her craft and how to handle complex knitting machinery. After years of using second hand machinery, Roisin wanted to upgrade to a machine she could rely on and that would maximise efficiencies for her business. This is where we came in with an Asset Finance facility to fund a new Shima Seiki knitting machine. The new machinery has allowed R.A.M to speed up production and gives them the potential to expand their product range in the future. It has also allowed growth for the business, meaning they can move to bigger premises, look to hire more employees and provide an opportunity for Roisin to teach knitting to locals and tourists alike.

Outcome of the deal

Speaking of the deal, Roisin said “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 straight forward. I’d definitely recommend Asset Finance to other business owners, it’s the best way to do it!”

We are so happy to have helped R.A.M Knitwear upgrade their equipment, putting them in the best position for future growth. Financing vital assets with our flexible funding solutions with manageable monthly repayments, means that businesses can grow while still maintaining healthy cashflow.