John Telfer, a blacksmith and metalwork company, is looking to the construction after securing an invoice-factoring facility with the Edinburgh-based lender.

A company boss said the move offers a chance to “modernise and diversify” the business during a period of turbulence in the steelwork industry.

The sixth-generation family firm, which employs 10 at its premises at Mansfield Gardens Industrial Estate, has developed a strategic business plan to increase its productivity and turnover.

Established in 1872, it already has a strong reputation across the central belt of Scotland, and its new invoice-factoring facility will free up cashflow to invest in recruitment and new equipment.

The business is also looking to expand its operations into the north of England.

John Telfer currently carries out structural steelwork projects and provides metalwork, such as gates and railings, for homes and commercial properties.

It is now looking to work with housebuilders to provide timber and steel for construction firms.

Operations director Gary Callachan said: “Our history runs back to the days of the traditional blacksmith’s forge and bellows, and we have been growing steadily for years.

“The steelwork industry is very turbulent, and we saw a need to modernise and diversify into property construction to remain competitive.

“We have been supported by the Bank of Scotland for over 50 years, and the team there has provided us with a facility that has given us the flexibility to turn our growth vision into a reality.”