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Metro provides £4.5m facility to recycling firm

Metro Bank has provided £4.5m (€5m) in financing to Slicker Recycling, a waste management firm based in Worcestershire.

By Lorenzo Migliorato

Metro Bank has provided £4.5m (€5m) in financing to Slicker Recycling, a waste management firm based in Worcestershire.

The financing comprised a £3.5m invoice finance facility and a £1m asset finance facility.

Slicker Recycling operates collection and recycling of hazardous waste for the automotive, transport and construction sectors. It employs a workforce of around 170, and its website claims it serves 30,000 customers annually.

Mark Stokes, managing director commercial banking at Metro said: “We work as one team to meet the needs of our customers, with our large commercial [clients] team working hand-in-hand with our invoice and asset finance teams to provide Slicker Recycling with a package tailored to their needs.

“Slicker Recycling has some really exciting plans in the pipeline and we look forward to helping them realise them over the years to come.”

Last week, Metro reported a 53% year-on-year increase in business lending volumes for the first quarter, to £3.4bn. Revenues for the bank increased 48% to £91bn, while underlying profits totalled £9.9bn, up fourfold from Q1 2017.

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