Scottish haulage company Currie European
Transport has secured a £4.5m (€5.4m) asset-based finance facility
from Lloyds TSB Commercial Finance as part of its expansion
strategy.
The new asset-based finance line will be
split between sterling and euro to cater for the Dumfries-based
firm’s overseas customers.
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Currie is also using Lloyd’s TSB
Commercial Finance’s protection policy to protect itself against
the risk of bad debts from customers. Currie MD Stephen Turner
said: “The funding from Lloyds TSB Commercial Finance unlocks the
balance sheet and releases working capital at a rate to suit our
growth.
“By also using debtor protection, we now
have an additional layer of security on our income.”
Currie European Transport has been using
Lloyds TSB Commercial Finance for a number of years, using its hire
purchase and leasing agreements to fund a fleet of some 100 trucks
and 475 trailers.
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