Jevington Logistics

Expanding its operations

A specialist marine contractor has expanded its operation and created local jobs after a six-figure mortgage from Lloyds Bank helped fund the purchase of a new boat.

Pembrokeshire based Jevington Logistics supply safety vessels, crew and personnel transportation services, to public organisations and private companies across the UK.

The firm won a new contract with defence technology firm QinetiQ – an affiliate of the Ministry of Defence (MoD) – after it was able to secure the purchase of another vessel.

“Lloyds Bank have worked with the management team at Jevington Logistics since the company started, and over the years have helped it to develop its services and expand its client base across the country. The marine mortgage is unique, and buying the new boat will enable the company to strengthen its relationship with its current partners, as well as establishing new relationships with firms across the country.”

Lesley Williams, Regional Manager, Lloyds Bank Commercial Finance

Unique Service Offering

By adding a new boat to their operation, the company – founded in 1985 – have created an extra five permanent local jobs in ground staff and administration, on top of the 10 roles currently employed.

The boat will be primarily based at Aberporth, Wales, with additional boats and staff being used for trials as part of their continuing work with the MoD.

“We provide a unique service, and in return need a funding partner that is able to adapt its support to suit our needs. We’ve had marine mortgages before, but when we decided to approach Lloyds, Damian and Lesley were so helpful we decided to go with them. The relationship team at Lloyds Bank has always been willing to work closely with us when we are looking to expand, and provides the tailored guidance needed to help us grow successfully.”

Joanne Thompstone, Director, Jevington Logistics

Marine Mortgage

Using hire purchasing and leasing facilities such as a marine mortgage is beneficial to firms that are looking to expand like Jevington Logistics, as they provide them with the capital needed to invest in new machinery without affecting the cash flow needed for day-to-day transactions. We are helping Britain prosper by helping a relatively established business to grow and create additional jobs, and also helping to improve the profitability of a business which already employs local people.

Marine Mortgage

Helping Businesses Prosper

Businesses across Britain are facing significant challenges. We’re helping to address them through our Helping Britain Prosper Plan because we believe we are best placed to do this. We already serve approximately 1 million small businesses but we want to be more than a bank.

In 2016 we achieved 7 of our 8 business targets, including:

- Providing £1.2 billion of new funding support to manufacturing businesses.

- Providing £955 million in funding to help housing associations expand affordable housing.

- Exceeding our target to support infrastructure projects worth a combined £10 billion, under the Government’s National Infrastructure Plan.