Furniture maker expands with Lloyds backingMember News
A Staffordshire furniture manufacturer has purchased new machinery, which could lead to job growth, after securing a six-figure funding package from Lloyds Bank.
Getley UK, which supplies independent high street retailers with cabinet units, approached Lloyds after demand for its products soared.
Lloyds Bank Commercial Banking provided a £337,000 hire purchase facility to the company, which also secured an additional £84,750 from the government's Regional Growth Fund (RGF).
It now expects to boost turnover from £800,000 to £900,000 following the installation of the machinery and will create eight new roles to add to its 41-strong workforce.
Owner Mark Getley said: "The investment in new machinery will enable us to manufacture approximately 7,000 more cabinets per year, giving us the capacity to meet customer demand as well as secure new contracts, which would not have been possible without Lloyds Bank's support.
"Once the new machinery is installed we will be close to reaching our current buildings capacity, so we are looking to invest in a new, larger premises in the next twelve months to cater for our growing size."