Oldham-based outdoor furniture retailer Moda Furnishings has been awarded £250,000 to help the business grow and expand in the USA.
The funds have been secured from the Greater Manchester Export Fund, which won a £9.5m Fund from the Business Finance Solutions, Business Growth Hub and UKTI to help local businesses grow export contracts all worldwide.
Moda Furnishings will use the funding to export into Europe and the USA, with predicted sales of £4m targeted over the next two years. Moda recently launched its sister company, Home Inc, which supplies indoor furnishings, will also benefit from the loan.
Owned by Philip and Joanne Lomax, Moda Furnishings trades online and through its showrooms in Failsworth and Enfield. Moda plans to open a new USA-based outlet in California, creating 23 new jobs and safeguarding 25 full time current employees.
Commenting to the Manchester Evening News, Mark Hughes, chief executive of Manchester Growth Company said: “Moda is a great Manchester business that is now on the way to becoming a global success story, thanks to this first £250k loan award.
"Philip and Joanne had already proved that there is real demand for their products, both in the US and Europe, and with the support of the GM Export Fund they now have the agility and ability to maximise those opportunities quickly and cost effectively.”