The support from Lloyds TSB has been outstanding. Having banked with them for a number of years, the relationship team really understands our business.
One of the South West's biggest independent tool hire firms has expanded with the opening of its third branch, using financial support from Lloyds TSB Commercial Banking and Lloyds TSB Commercial Finance.
South West Hire and Sales Ltd was established in 2007 by Andy Webber and Mark Williams, who launched the business after spotting a gap in the South West market for an independent tool hire service.
With the business continuing to prove popular amongst the local community, Andy and Mark approached their bank, Lloyds TSB Commercial Banking, in order to secure a tailored financial package to help purchase a third site in Newquay which opened earlier this year.
The pair were also introduced to Lloyds TSB Commercial Finance which provided an asset based finance facility, enabling the firm to maintain a consistent cashflow by advancing up to 90 per cent of the value of issued customer invoices.
Andy Webber, owner of South West Hire and Sales, said: "My previous experience in the industry meant I was well equipped to start my own business and capitalise on the gap in the local market for a tool hire service.
"The support from Lloyds TSB has been outstanding. Having banked with them for a number of years, the relationship team really understands our business and they are continually coming up with new ideas to help us grow in the most efficient way possible."
Richard Bowley, Relationship Manager at Lloyds TSB Commercial Banking, said: "We have a network of relationship managers that are committed to working closely with ambitious businesses like South West Hire and Sales to help them access the right support and funding packages to aid their growth and development."
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With the support of our facility, the company can further improve its working capital provision and effectively prepare to maximise key trading periods, and build on its impressive development to date.
A toy distributor is targeting over 50 per cent sales growth having secured a £1 million factoring facility from Lloyds TSB Commercial Finance.
Established in 2004, IMC Toys UK provides licensed products, which are aimed at children from six months to eight years of age, to a range of national retailers.
IMC Toys UK recently recognised a requirement to secure additional funding for ongoing investment in its expansion strategy and to further support its cashflow requirements, which are aligned to the seasonality in retailer and consumer toy buying patterns. As a result, it secured a £1 million factoring line from Lloyds TSB Commercial Finance.
The UK company is wholly owned by Spanish parent IMC Toys SA, which was incorporated in 1981 and is today counted amongst Europe's 20 largest toy manufacturers.
Terry Crew, Managing Director at IMC Toys UK, said: "As a business we share our parent company's commitment to growth and high quality customer service, and continue to be amongst the UK's fastest expanding toy suppliers despite challenging market conditions.
"The Lloyds TSB Commercial Finance team took a diligent and pragmatic approach to funding, and were able to arrange a facility closely tailored to our working capital cycle and expansion ambitions."
Andrew Gaunt, Relationship Manager at Lloyds TSB Commercial Finance, said: "IMC is a highly ambitious, growing business, with a strong management team and the support of its multinational parent. Its suite of popular products, strong customer base and high quality services, positions the company for future expansion.
"With the support of our facility, the company can further improve its working capital provision and effectively prepare to maximise key trading periods, and build on its impressive development to date."
The lending package we were able to put together for the company reflected its specific needs, and is a good example of the individually tailored facilities we are able to offer our customers.
A business compliance company has secured its future by purchasing its existing premises, with the support of a £5 million loan package led by Lloyds TSB Commercial Banking.
Established in 1969, SG World provides health and safety products, including printed stationery and visitor management systems, to a wide range of private and public sector customers.
With its headquarters and main manufacturing facilities in Crewe, the company, which employs 150 staff, also has operations in London, Dublin and Dusseldorf and is planning to open an office in the USA within the next 12 months.
The company approached Lloyds TSB Commercial Banking to secure the funding to buy the premises, as well as to provide working capital for SG World's growth plans.
The bank put together a £5 million package involving a loan and working capital, as well as an invoice discounting facility from Lloyds TSB Commercial Finance.
Mark Haase, Director of SG World, said: "The repurchasing of our premises marks an important step in SG World's growth strategy, affirming our commitment to developing both our UK and overseas operations.
"The mix of short and long term lending provided by Lloyds TSB perfectly suited our needs, and the support and guidance from our Relationship Director in bringing together the other lending partners was key to securing the successful completion of the deal."
Dave Brigden, Relationship Director for Lloyds TSB Commercial Banking, said: "SG World is a strong and well-managed company that continues to thrive and expand in a difficult economic climate, and is now well placed to take advantage of growth opportunities in the coming year."
The business requires an adequate level of funding to ensure it is well placed to take advantage of growth opportunities. Factoring is an ideal solution for start-ups such as O4 which are already experiencing considerable demand.
Business is booming for a furniture manufacturing business after it was launched using a funding package from Lloyds TSB Commercial Banking.
O4 Office Furniture manufactures and supplies entry level office furniture including desks, tables and various storage units to furniture distributors and wholesalers nationally.
The company was set up by Directors, Tim James and Nigel Kettlewell, who both previously worked for a wellknown local furniture manufacturer.
To launch the firm, the business partners approached Lloyds TSB Commercial Banking to secure the funding they needed. They also secured a factoring facility from Lloyds TSB Commercial Finance, enabling the firm to maintain a consistent cashflow by advancing up to 90 per cent of the value of issued customer invoices.
Tim said: "We aim to continue to capitalise on our long-term experience and knowledge of the furniture manufacturing sector. We detected a gap in the market for an office furniture manufacturer, and by capitalising on this we are now in an excellent position to develop and generate further business.
"The support provided from Lloyds TSB Commercial Banking and Lloyds TSB Commercial Finance has ensured that we have sufficient funding to set up the business and the factoring facility will continue to provide flexibility in our cashflow as we invest to expand."
Simon Marks, Regional Manager at Lloyds TSB Commercial Finance, said: "With a wide customer base already well-known to the directors of the business, and their strong track records in the regional market, O4 is already on the front foot to succeed.
"The business requires an adequate level of funding to ensure it is well placed to take advantage of growth opportunities. Factoring is an ideal solution for start-ups such as O4 which are already experiencing considerable demand."
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Lloyds TSB Bank plc and Lloyds TSB Scotland plc are authorised and regulated by the Financial Services Authority under numbers 119278 and 191240 respectively.
Licensed under the Consumer Credit Act 1974 under registration numbers 0004685 and 0198797 respectively. We subscribe to The Lending Code; copies of the Code can be obtained from www.lendingstandardsboard.org.uk
Both companies are covered by the Financial Services Compensation Scheme and the Financial Ombudsman Service. (Please note that due to the schemes' eligibility criteria not all Lloyds TSB Commercial Banking customers will be covered by these schemes.)
Factoring, Invoice Discounting, Hire Purchase and Leasing facilities are provided by Lloyds TSB Commercial Finance. When using these products and services your agreement will be with the Lloyds Banking Group whose terms and conditions will apply. Lloyds TSB Commercial Finance is a trading name of Lloyds TSB Commercial Finance Limited.
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