New beginnings

Building on basics

How we helped Furmanac Ltd to purchase vital new machinery

In 1972, John Hilliard’s father founded his own furniture business, Furmanac Ltd, in Dudley, developing and manufacturing adjustable beds for the local community. The business built up a strong reputation over the years, developing an extensive customer base.

After a number of years, John took ownership of the family business, which was experiencing a high level of customer demand. In order to allow the business to prosper, John recognised the need to purchase new machinery to increase production facilities.

The adjustable bed market has expanded rapidly in the UK, with the trend for traditional British furniture sourced from local manufacturers becoming increasingly popular.

John Hilliard, Furmanac Ltd

MAKING IT HAPPEN

John knew how much the new equipment would help the business in its growth, but he also recognised just how expensive this equipment was going to be. John accepted that if he was going to put his plans into action, he was going to need some additional help. He approached Lloyds Bank Commercial Banking to secure the funding needed to purchase the new machinery. The bank provided a £250,000 Enterprise Finance Guarantee Loan (EFGL), which also enabled John to extend his manufacturing space to house the new machinery. 

The team at Lloyds Bank Commercial Banking has been really supportive, and the funding provided has been crucial in helping us to expand and further increase the standard and variety of the products we have available.

John Hilliard, Furmanac Ltd

Delivering the goods

Manufacturers are a vital part of a community and Lloyds Bank Commercial Banking is committed to supporting manufacturing firms with a desire to grow.

Through our manufacturing commitment, we have delivered over £1billion of funding to manufacturers across the UK, three months ahead of schedule.

At Lloyds Bank Commercial Banking we are one of the most active EFGL lenders and we are dedicated to supporting businesses with their plans for growth and expansion. By the end of June 2013 we had offered more than 5,600 EFGL loans, worth over £445 million.

Adrian Burden, Relationship Director, Lloyds Bank Commercial Banking