Motor retailer Brindley Garages Group has secured a multi-million pound funding package from Lloyds Bank Commercial Banking to support its continued expansion and garage refurbishment programme.
The lending facility, for an undisclosed sum, has been provided by Lloyds Bank’s team based on Colmore Row in Birmingham, using cash from the Government-backed Funding for Lending Scheme, which enables businesses to take advantage of reduced borrowing costs in order to boost their growth plans and support future investment.
The package provides additional capital which will help to support the continued growth and market expansion of Brindley Garages Group, including the roll out of new garage locations across the wider West Midlands region.
The company is the largest family owned car dealership in the West Midlands and currently operates 11 franchised garage locations across the region. It employees 380 staff and has a turnover of £140 million.
Paul Ashcroft, finance director, said: “This funding facility from Lloyds Bank demonstrates its commitment to helping us to realise our long-term ambitions to drive our continued growth and expansion.”
Ian Fitzjohn, relationship director at Lloyds Bank Commercial Banking in Birmingham, added: “Brindley Garages has demonstrated solid growth throughout its 82-year history. Its reputation and credibility as a leading car dealership continues to grow and we are committed to working with them.”