Business lending: July Deals of the Month
Each month we profile five of the key SMEs banking deals supported by RBS and NatWest business banking and commercial banking teams around the UK.
12 August 2014
July deals range from a £50,000 loan for a gymnastic club, to a seven-figured package for Redline Specialist cars.
Redline Specialist Cars
Location
Harrogate
Amount lent
A seven-figure funding deal with NatWest and Lombard
Why
The funding facilities will allow Redline Specialist Cars to replenish its stock, matching its increasing customer demand and achieving its goal of selling 1,000 vehicles in 2014. As a result of the deal, two new jobs have already been created and additional appointments are expected in the future.
Key individuals involved
John Graeme, Sales Director at Redline Specialist Cars, Chris Matthewman, Relationship Manager at NatWest, and Jon Metcalf, Lombard Corporate Director
Canterbury Gymnastics
Location
Canterbury
Amount lent
£50,000
Why
The loan enabled the club to lease a new site and kit it out with an international standard floor and new specialist equipment. The new premises mean that the club can now extend its opening hours and cater for adults and other groups such as parents and toddlers. Three full time and eight part time roles will also be created.
Key individuals involved
Rae Mattioli, Managing Director at Canterbury Gymnastics and John Moore, NatWest Relationship Manager
Walsall Cricket Club
Location
Walsall
Amount lent
£65,000, including a loan through the Government’s Funding for Lending Scheme.
Why
Walsall Cricket Club is currently host to some 300 junior and senior members from the local area. Its facilities are also used by a local junior football team, the club’s bowls section, social members, the Little Crickets Nursery school and by members of the public for private functions. Thanks to the investment, the club house is set to receive an extensive refurbishment, including upgrading the bar area. Specialist grounds maintenance equipment will also be purchased.
Key individuals involved
Mark Green, honorary treasurer at Walsall Cricket Club, and Mark Lomas, NatWest Relationship Manager
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