News Column

RBS-Business lending: deals of the month

May 7, 2014



ENP Newswire - 07 May 2014

Release date- 06052014 - RBS-Business lending: deals of the month.

Each month we profile five of the key deals supported by RBS and NatWest business teams around the UK.

The Pie Emporium

Abdul Sadek, NatWest business manager in Oxford, and Bluey Richards, owner of the Pie Emporium

In this first round-up we cover support for a sponsorship deal with a Premier League football team, a Northamptonshire firm creating 40 new jobs, and an Oxfordshire pie restaurant easing its cash flow using the NatWest Storm Business Fund.

Robert Dreyfuss and 4 CFC players

Rotary Watches

Location

London

Amount Lent

Substantial funding through the Government's Funding for Lending scheme and RBS Invoice Finance.

Key Individuals involved

Gary Williams, Finance Director at the Dreyfuss Group, Rotary's parent company, and Jonathan Coates, Relationship Director in NatWest's Special Sectors team

Why

Dreyfuss Group needed working capital to underpin its four year sponsorship deal with Chelsea Football Club, which sees it become the Global Official Timekeeper for the Premier League team. Rotary views the sponsorship as an opportunity to grow its exports by 60% in 2014, tapping into Chelsea's 500m supporters worldwide

Vistec Systems

Vistec Systems

Location

Crawley

Amount lent

GBP225,000

Key individuals involved

Dean Hawkins, Director of Vistec Systems, and Geoff Turtle, Senior Relationship Manager at the NatWest branch in Crawley

Why

To enable the security systems company to expand its headquarters, following a doubling in growth year on year and turnover rising to more than GBP3m. The GBP225,000 commercial mortgage enabled Vistec to buy the freehold of its existing premises and the unit next door

Abdul Sadek, NatWest business manager, and Bluey Richards of the Pie Emporium

The Pie Emporium

Location

Oxford

Amount lent

GBP30,000

Key individuals involved

Bluey Richards, owner of the Pie Emporium, and Abdul Sadek, NatWest business manager in Oxford

Why

The restaurant's trade was hit just a few weeks after launch when flooding prevented potential customers from coming into Oxford. Bluey and her husband Stewart borrowed the GBP30,000 interest free for three months from the NatWest Storm Business Fund to help with cash flow

Rugged Earth

Rugged Earth

Location

Marlow

Amount lent

GBP140,000

Key individuals involved

Mark Aspinwall, Director and founder of Rugged Earth, and Nicola Damelio, relationship manager for NatWest

Why

Rugged Earth provides virtual graphics services to a range of sports broadcasters, including ITV, BT Sport, Sky and the BBC, rents out its specialist broadcast equipment and provides on-site sports analysis integration and operation. Funding from NatWest and Lombard, the banks dedicated asset finance arm, has been used to invest in state of the art equipment to ensure the company stays competitive and as a cash buffer for busy months.

Industrial Site Maintenance

Industrial Site Maintenance

Location

Hannington, Northamptonshire

Amount lent

A six figure package comprising of a NatWest loan backed by the Governments Enterprise Finance Guarantee Scheme and working capital support from RBS Invoice Finance.

Key individuals involved

Angus McFadzean, managing director of Industrial Site Maintenance, and John Luxton, relationship director for NatWest.

Why

To continue growing, the company must invest in the latest machinery, train its workforce and recruit high quality staff. Using the NatWest funding, the company plans to create 40 new jobs and expects a 38% revenue boost over a four year period.


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: ENP Newswire


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