Haulage firm expands fleet with six-figure finance package from Lloyds Bank

A Midlands haulage agency has invested in a new fleet of automobiles after securing a six-determine finance deal from Lloyds Financial institution.

Tamworth-headquartered Lloyds Transport and Warehousing has used the £526,000 employ the service of obtain facility to purchase 20 new trailers, indicating the business enterprise now operates a 120-sturdy fleet.

The new autos will drastically improve the firm’s capabilities to transport substantial portions of items.

Nicola Gallagher, finance director at Lloyds Transport and Warehousing, mentioned: “The pandemic accelerated shopper desire in some of our main shopper industries like food items and drink and pet products and solutions, and this has experienced a positive knock-on to demand from customers for our haulage solutions.

“As we continue to increase, it is really crucial that we proceed to upgrade and expand our fleet and this financial investment marks the most up-to-date phase in this commitment.”

Founded in 2005, Lloyds Transportation and Warehousing specialises in the transportation of a extensive variety of items across the United kingdom. Its consumer foundation incorporates some of the UK’s major names in the food and drink, pet merchandise and white merchandise industries.

The company employs 116 individuals and operates from an 85,000 sq ft warehouse on Relay Park in Tamworth.

The hottest funding follows a £900,000 CBILS personal loan from Lloyds all through the coronavirus outbreak.

Vijay Chouhan, partnership manager at Lloyds Financial institution Industrial Banking, explained: “There has been a surge in desire for dependable British isles-broad haulage services not long ago, indicating businesses like Lloyds Transportation and Warehousing are thriving. This expansion to its motor vehicle fleet offers the firm a great deal-needed added ability to enable deal with this upshift as additional firms appear for quickly and productive transportation products and services.”

Julie Cranmer, associate director of asset finance at Lloyds Financial institution additional: “It is so encouraging to see Lloyds Transport and Warehousing embracing the up coming stage in its growth journey and we hope that the new fleet of motor vehicles will enable to help the ongoing shipping and delivery of the firm’s fantastic support.

“We will continue on to be by the side of the organization as it seems to construct out its growth ambitions in the long run, as component of our commitment to assist Britain prosper.”