Lloyds TSB Commercial Finance has provided an
asset finance facility for Newton Abbot-based groundworks firm
Tanner and Bruce.
Lloyds TSB to helped fund the capital outlay
for a new excavator which Tanner and Bruce required to fulfil a
series of new contracts. Lloyds agreed a deal within 24 hours.
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Jim Bruce, co-founder of Tanner and Bruce,
said acquiring new the equipment was essential to providing their
services and added: “Paying cash outright from our balance sheet
for the new excavator would have put significant pressure on our
working capital.
“The facility from Lloyds TSB Commercial
Finance ensured we were able to fund upfront costs.”
grant.collinson@vrlfinancialnews.com
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