Aldermore Bank has provided £500,000 in asset based lending to Geo Quarries, a Lincolnshire-based construction products supplier.
Geo Quarries was established in 2015, and recently acquired the Little Pontoon Quarry in Grantham, Lincolnshire.
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The company extracts stone, washed sand, gravel, and ready-mix concrete to create construction materials.
Geo Quarries hopes that the funding from Aldermore will further the exploration work at the Grantham site, and enable them to add new quarry locations and invest in vehicle and plant fleets.
John Duffy, chief executive officer of Geo Quarries, said: “We are very proud of the sustainable solutions we have been able to create in all our core markets.
“The facility from Aldermore will help us to reduce our carbon footprint and to grow the company further.”
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By GlobalDataStefan Radymski, head of business development, invoice finance at Aldermore, said: “The invoice and stock finance facility will not only help the company’s exploratory work in the Little Ponton Quarry, but also help the business to manage cash flow throughout the year.”
