Black Country logistics business Clarke Transport has expanded its fleet with a £1.5 million asset line from Barclays bank.
The financial support will allow the Oldbury based firm to lease purchase up to 16 vehicles, taking its fleet to 200.
The business, which has six depots around the country, is opening a new depot in Luton in June, which will create 30 jobs.
Clarke Transport was founded in 1933 by Alf Clarke and is now a third generation business directed by brothers Bill and Robert, with dad Bill acting as part time chairman.
Commercial director Bill Clarke said: “Despite the challenging environment and the hike in fuel costs, we have managed to continue to develop the business.
“We are delighted to be opening a depot in Luton and to be able to create new jobs for local people.
“We will continue to grow the business at a sustainable level for the future.”
The company employs 400 staff and the fourth generation of Clarke is learning the ropes in the business.
Clarke Transport offers a finished goods service, predominantly serving the automotive, consumer, engineering, food, manufacturing, packaging and paper industries and is a specialist in transporting hazardous cargo.
The company has banked with Barclays for 30 years.
Andy Mayne, relationship director at Barclays Corporate, said: “Clarke Transport has demonstrated how it is possible to expand despite the challenging economic climate we are operating in.
“Their strategic growth plans are commendable and the opening of the depot in Luton will not only create new jobs but will increase the company’s network which in turn will support their future expansion.”
The funding is part of the Barclays Finance Cashback Scheme, part of the Government’s National Loan Guarantee Scheme, launched earlier this year.