AN IT solutions company has a bright future after it received more than £50,000 in loans to expand the business.

StoneHouse Logic, Clayton-le-Moors, received the cash from Michelin Develop-ments, part of the tyre giant.

Since it started five years ago Michelin has loaned more than £1.2 million to East Lancashire firms and the two £25,000 loans to StoneHouse mean it has handed £3m around the country.

Michelin has a presence in East Lancashire because it used to have a factory in Burnley. The scheme aims to support areas that have had, or have, a Michelin presence.

StoneHouse’s cash has allowed it to invest in training accreditation systems and gain MicroSoft's Gold Certified Partner Status.

This has led to IT solutions contracts and projects for a number of local East Lancashire firms including restaurant and pub chain Northcote.

Mike Cole, director for Michelin Development, said “We are very pleased to see the fund go past the £3m mark but, more importantly, we are extremely proud to have supported the creation of 1,400 jobs.

“By helping forward thinking progressive companies like StoneHouse Logic, Michelin Development can play its part in injecting a vibrancy and sustainability to the regional economy which in turn will help create a climate in which other start-ups and enterprises can flourish.”