Cheshire IT company clinches finance

An IT company based in Poynton has scooped a £4.8m finance package to develop its business both in the UK and Europe.

ICP Networks, which specialises in trading new and refurbished IT network hardware, plans to use the package from HSBC to expand in the UK and target European growth.

The business intends to create jobs over the next two years and recently invested £1m in new headquarters to cater for its expansion.

ICP Networks has secured the funding from HSBC's Manchester commercial team, which includes loans, invoice finance, trade finance and foreign exchange products.

Matt Archer, ICP Networks managing director, said: "We are delighted with the suite of funding solutions provided by HSBC as it allows us to continue our growth, which is critical for the success of the business."

Jason Trigg, HSBC's Manchester area commercial director added: "ICP Networks is a forward thinking business, as demonstrated by the investment it has made in its new HQ, which is a great example of how commercial buildings should operate.

"This funding will support the company's growth at home and in Europe by enabling to expand its stock holding and improving its ability to offer a broader range of services to its customers."

ICP Networks was founded by Matt Archer in 2002.

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