Investment & Fund Management
which guaranteed the loan with backing from the European Investment
Full Credential Description
Playnick, an Austrian company specializing in high-quality mouthpieces for clarinets and saxophones, faced a significant challenge in financing the development of a new business line that involved replacing a wooden component with plastic. This innovation was crucial as wood can change over time, affecting the quality of the instruments. To support this development, Playnick required a working capital loan.
To address this need, Playnick turned to Austria Wirtschaftsservice Gesellschaft (aws), which guaranteed the loan with backing from the European Investment Fund (EIF). This tailored financial solution enabled Playnick to proceed with their innovative project, ensuring they could continue to optimize the sound quality for musicians.
As a result of this financial support, Playnick has grown to employ seven staff members and is actively seeking to hire more highly-qualified personnel. The companys commitment to continuous improvement and innovation in the musical instrument sector is reflected in their philosophy and ongoing development efforts.