FAMILY-run dealership Richard Sanders has secured financial backing to ensure ‘growth and expansion’.
Lloyds TSB has agreed to support the Kettering-based company which operates Renault, Nissan, Peugeot, and Honda franchises.
Over the last year, Richard Sanders has doubled in size with an annual turnover of around £30m.
Richard Sanders, pictured left, said: ‘This deal is an important step in the development of the business and we’re pleased to have such a strong and reliable financial partner as Lloyds TSB.
‘The bank’s team showed how well they understand our business and the challenges and opportunities we face.’
Relationship director at Lloyds TSB Corporate Markets Ian Barkes, pictured right, added: ‘We were impressed by Richard’s track record and his clear vision for the growth of his business.
‘We’re delighted to be supporting a family-run firm and look forward to helping Richard continue to expand his business in improving but challenging economic conditions.’
by JAMES BATCHELOR