Masterfreight has received £2.74m ($3.41m) in funding from NatWest and asset finance partner Lombard to upgrade its AMK House site in Oldbury, UK.

The UK-based freight logistics provider has now completed the initial phase of enhancements at its Oldbury site.

Masterfreight said that the improvement works at AMK House include the installation of insulated cladding and an increase in roof height to facilitate solar panel installation.

The company expects these developments to enhance its operational efficiency and augment customer services.

Masterfreight director Kishore Balu said: “The improvements we have made to AMK House support many of our long-term business goals around efficiency and climate.

“The NatWest team have been incredibly supportive of our plans and were able to help us with the funding to deliver on our ambitions for the site.”

Masterfreight currently employs more than 25 individuals and plans to create additional job roles soon.

NatWest senior relationship manager David Humphreys said: “As the UK’s biggest bank for business, NatWest is proud to be supporting Masterfreight as they push forward with their business growth plans and climate efficiency strategy.”

In October, Time Finance enhanced its invoice finance funding line with NatWest.

This expansion increases the facility to £65m, thereby augmenting Time Finance’s capacity to meet the escalating demand from UK SMEs for invoice finance and asset-based lending facilities.