Situated in Newbury, Orbit4 is the latest SME in the region to have secured an expansion loan from The Thames Valley Berkshire Funding Escalator to help them implement plans to grow their business. The funding will be used to create ten new positions within the company in line with its expansion plans to grow globally.
Daniel Jones who founded Orbit4, (the umbrella brand name for FitnessCompared, FitnessFinance, WeServiceGymEquipment and WeBuyGymEquipment), is an entrepreneur with more than twenty years’ experience within the health and fitness sector. When gym and fitness facility owners trade in pre-used commercial gym equipment, he realised the values the owners received were often inconsistent. He wanted to ensure that the sellers and buyers received fair prices.
Orbit4 is the first digital ecosystem to manage and facilitate the entire commercial fitness life cycle of gym equipment. The company aims to help the fitness industry become more streamlined in purchasing commercial products and more efficient in finding the best price and partners for extended service contracts and residual values.
It is free to register with Orbit4 who make the experience of buying and selling gym equipment faster and better for everyone involved, saving time, money and the planet.
Daniel Jones, CEO of Orbit4, said: “The inclusive nature of Orbit4, provides the perfect environment for all stakeholders to do business efficiently, effectively and with 100% transparency. The funding will be used to further develop and strengthen the hard-hit health & fitness industry with the creation of ten new positions within the business. It will allow us to expand our global presence and our product offering. Our thanks to Cheryl at The FSE Group for guiding us through the funding process.”
Cheryl Weeks, Head of Funds, South East for The FSE Group, commented: “Orbit4 has taken the health & fitness industry by storm, creating an easier way for gyms to purchase, manage and dispose of their fitness assets. We were pleased to be able to support Daniel to implement his expansion activities that should deliver substantial growth, whilst at the same time, marketing the platform to increase brand awareness and driving more traffic to the website. We look forward to the next stage of their journey.”
TVB Expansion Loan Scheme is part of TVB Funding Escalator, an £11.3m initiative funded by Thames Valley Berkshire LEP. The escalator, which also includes a Trade Finance Loan Scheme and a Growth Equity Fund, provides eligible companies with loans and equity funding between £50,000 and £300,000 for activities that will deliver high-growth and employment opportunities.