Heartlands Furniture

No Sitting Around for Furniture Company

A Midlands-based business has managed to save several local companies from relocation after securing a funding package from Lloyds Bank. Heartlands Group, which owns Heartlands Furniture and commercial premises in the area, switched their banking  to Lloyds Bank and secured a loan facility to refinance debt on several premises which house their own furniture businesses, while also securing the commercial property arm of their business.

They rent out premises to several local traders in the area, including a wholesale grocer, a printing firm, and a pound shop supplier.

Switching our banking facilities over to Lloyds Bank has meant we now have the opportunity to grow. Paul and his team have been very accommodating and have given us plenty of support with setting up our online banking facilities, and providing a credit facility should we need to use it.

Saleem Shareef, Managing Director, Heartlands Group

New Opportunities

In addition to the loan, an asset finance deal has been used to purchase three new trailers and an HGV truck for Heartlands Furniture – a wholesale furniture business which imports furniture from the Far East, Brazil and Europe.

Heartlands Furniture has an annual turnover of £10m and employs 55 people. The banking facilities provided by Lloyds Bank include an invoice discount facility and foreign exchange facility online, which has helped with cash flow and made Heartlands Furniture more self-sufficient.

It’s been a great example of collaboration across the various departments within the bank to bring the client onboard.

Paul Warrington, Relationship Director, Lloyds Bank

Supporting Local Businesses

The Lloyds Bank loan has ensured Heartlands have been able to pevent other local businesses from having to relocate, whist also also allowing them to grow their fleet.

Supporting Local Businesses

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.