Aldermore has provided a new asset finance facility worth £530,000 to Sturdy Print.
The print manufacturing business has an annual turnover of over £3m and employs 35 staff.
The facility from the specialist bank to the Lancashire-based business — which offers day-to-day printing and B2B services — has resulted in productivity at Sturdy Print increasing by 300%.
Stewart Sturdy, co-owner and financial director at Sturdy Print (pictured above, left), said: “We realised a number of years ago that to survive as a business we needed to be able to provide more than the traditional litho-printing service.
“Over the years, we’ve gradually improved the size and productivity of the machinery that we own to meet the increasing demand for B2B printing services — but that machinery isn’t cheap.”
Sean Thorn, business development manager at Aldermore, added: “It is always encouraging to see family-run businesses flourishing and we’re delighted Aldermore is able to support Sturdy Print in achieving their business goals.”
Steve Price at Ilsley Finance Ltd (pictured above, right), commented: “Sturdy Print has been a client for some 18 years and this acquisition was the latest in a long line of equipment upgrades.
“Our working history enabled us to source a competitive and attractive facility very promptly."
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
Triodos Bank creates new UK subsidiary company
Triodos Bank UK has been granted a UK banking licence to operate as a subsidiary company...
Al Rayan names new chief financial officer
Al Rayan Bank has appointed Amir Firdaus (pictured above) as its chief financial officer (CFO)...
NatWest launches biometric feature for business payments
NatWest has announced the launch of a new biometric approval feature for all business payments...
Hinckley & Rugby increases LTI multiplier
Hinckley & Rugby Building Society has increased its loan to income (LTI) multiplier across its residential range for applications up to 80% LTV...
Nationwide partners with seven fintechs to support financially squeezed
Nationwide Building Society has selected seven fintech companies to create apps that will increase financial capability...
Metro Bank to open first store in Liverpool
Metro Bank is set to open a new store in Liverpool on Paradise Street...
Investec removes SVR from all new fixed rate mortgages
Investec Private Bank has removed the standard variable rate (SVR) on its two-, three-, four-, five- and 10-year fixed rate product range for all new clients...
Mid-size automotive manufacturers miss out on £25bn in revenues
UK mid-sized automotive manufacturers could be missing out on £25bn in revenues as a result of insufficient access to funding, according to research from Wyelands Bank...
Leek United hires new finance director
Leek United Building Society has named Rob Broadbent (pictured above) as its new finance director...
Handelsbanken posts 7% lending surge
Handelsbanken has revealed in its latest quarterly results that its UK lending increased by 7% to £21.1bn in Q1 2019 compared with the same period last year...
Al Rayan Bank expands Birmingham headquarters
Al Rayan Bank has expanded its operational headquarters in Edgbaston, Birmingham...