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Bristol-based holiday company Sunisle has secured financial backing from Finance South West allowing the company to implement ambitious plans which aim to increase sales by an impressive 800%.

Specialising in villa holidays in Greece and its surrounding islands, Sunisle applied for investment from Finance South West Growth Fund, managed by YFM Venture Finance, to expand the business and promote it both regionally and nationally. The company’s success has been fuelled by an increased use of the internet, with consumers using it as an intelligent tool to choose their holidays.

Two new members of staff have already been taken on to deal with the increased levels of business, with more to be employed shortly as more interest is established. The company anticipates increasing sales by a factor of eight over the next three to four years.

Finance South West, which is part funded by the EU, is an £18 million investment fund that can provide commercial finance from £10,000 up to £1 million for buying, starting or growing a business in the Objective Two area of the South West. It has now invested £11.6 million in the region’s businesses, levering £26 million into the South West economy.

Nick McKenna, Director of Sunisle, commented: “We found that Finance South West really understood the drivers to our business and could see the opportunities for growth. Many alternative organisations were more inward looking. This investment is a strong vote of confidence for Sunisle given the current turmoil in the money markets and we see an exciting future ahead for the business.”

Will Jenkins, Investment Manager at Finance South West, added: “Sunisle uses a pure online business model which is proving to be very successful. We are looking forward to working with the company and seeing their bright ideas come to fruition.”

ENDS
Dated 23/06/08
Notes to Editors
Finance South West, which is part funded by the EU through the Objective Two Programme for the South West, is an £18 million investment fund targeting small and medium sized enterprises in this region with a range of equity, mezzanine and debt capital. Finance South West can provide commercial finance from £10,000 up to £1 million for buying, starting or growing a business in the Objective Two area of the South West. It has now invested £11.6 million in 86 businesses in the region, levering over £26 million into the South West economy and creating or safeguarding 872 jobs.

The Finance South West Loan Fund has invested over £4 million in 73 small and medium-sized businesses, levering more than £6.5 million into the South West economy, safeguarding 226 jobs and creating 159. The Finance South West Growth Fund has invested a total of £7 million in 14 companies, levering over £20 million into the economy, creating 46 jobs and safeguarding 259.

The company also offers business planning services and mentoring through a network of qualified professionals and a panel of non-executive directors to help businesses achieve their goals.
Finance Cornwall Fund Managers Limited is an investment company authorised and regulated by the Financial Services Authority registered in England and Wales, number 05010380, registered address 14 High Cross, Truro, Cornwall, TR1 2AJ.

For further information visit: www.financesouthwest.co.uk

YFM Venture Finance Ltd (part of the YFM Group)
YFM Group, authorised by the Financial Services Authority, is the UK’s most active investor in the small and medium enterprise marketplace. YFM Group manages in excess of £250 million of funds with investment sizes ranging from £50,000 to £5 million. YFM is located in Leeds, Manchester, London, Plymouth, and Bristol with over 40 investment professionals across the UK. In the South West, YFM Group manages the Finance South West Growth Fund and the South West Ventures Fund.

Contact - PR for Finance South West: Katy Thorpe, PR Account Executive, Formedia. Telephone: 01752 764220 / Email: katy@formedia.co.uk.