A BIRCHWOOD procurement solutions provider has secured a £4million 'Northern Powerhouse' loan.

Inprova Group, which is based on Olympic Way, has secured the loan from Barclays' Northern Powerhouse Fund following a successful management buyout by current chief executive Paul Kennedy.

The £500m fund was established in order to inject investment into small and medium-sized businesses in the north of England.

Mr Kennedy said: "I would like to thank Barclays for their enthusiastic support for this transaction.

"They spent a long time building a relationship with us and were then able to structure a funding package that suited our long term needs following the management buyout.

"The whole team at Inprova has worked tremendously hard over the years to establish a successful business which is now set for further growth."

Ian Wilby, relationship director at Barclays Corporate Banking, added: "At Barclays we're delighted to be able to help businesses grow and expand, and the Northern Powerhouse fund is the perfect vehicle for businesses that are looking for new opportunities and require flexible funding options.

"Being chosen as the bank for newly-established Inprova Procurement is testament to the management team’s strong relationship built with Barclays."