Purchase of company HQ through Funding for Lending

Purchase of company HQ through Funding for Lending

A company has used £120,000 commercial mortgage provided by NatWest through the Government’s Funding for Lending scheme to buy its warehouse and offices.

First Fix Supplies, based in Sheffield, South Yorkshire, specialises in supplying electrical and mechanical products for the construction sector. Director Denis Doyle bought the company in 2010 and has more than doubled its turnover and retained all of its customers since the management buyout.

He now wants to adapt the company’s warehouse and offices to meet First Fix’s needs and business aspirations and to provide a stable future for the company.

Doyle worked with NatWest Relationship Manager Graham Nevin to secure a £120,000 commercial mortgage through the Funding for Lending Scheme.

Doyle said: “I think it’s important to have a strong relationship with your bank manager rather than with the bank itself. I have been working with Graham now for three years, I know he is experienced and I know that he will do his best to help the business in any way he can. For this reason, I look forward to continuing to work with him in the future.”

NatWest is providing new loans to more than 4,000 businesses a week, and RBS Group has allocated £3.42bn to over  21,000 businesses through the Funding for Lending scheme since its launch in August 2012.

Nevin said: “Denis has grown First Fix Supplies by offering the very best service to his customers and with Denis at the helm, I know that the business will continue to grow.”

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