Pictured above: Darren Riley (LTSBC RM) and Steve Butler (MD
of Need a Skip)
A West Bromwich waste management company has expanded its
premises to provide a larger dedicated recycling facility using a
six-figure European Investment Bank (EIB) loan from Lloyds TSB
Commercial.
Need a Skip Ltd, based on Brandon Way, operates a complete waste
management service, taking in material and separating the
recyclables, which can then be sold as a commodity. The company
also provides skip hire throughout the West Midlands.
With over 20 years' experience in the waste disposal industry,
the £4 million turnover business recognised the demand for
more environmentally friendly waste management - lessening the
amount of rubbish sent to landfill.
Currently taking in 1,000 tonnes of waste materials per week and
recycling 85 per cent of it, the six-figure loan has allowed Need a
Skip Ltd to expand its premises in West Bromwich by an extra 3,500
square feet and increase its recycling to at least 90 per cent of
all materials acquired.
The loan was made through the EIB scheme, which allows firms to
secure standard fixed or base rate loans with a 0.80 per cent
interest rate discount. The funding can be used for a variety of
purposes, such as purchasing or renovating property.
Currently employing 48 people, Need a Skip Ltd plans to recruit
a further five people to man the new site and increase turnover by
£1 million in the next 12 months.
Stephen Butler, director at Need a Skip Ltd, said: "We service
all the major house builders along with many local construction
companies and homeowners, taking in huge amounts of waste every
day. It is therefore important that we dispose of it in the most
environmentally friendly way possible.
"The new larger premises give us the capacity to further
increase the amount of building materials we take in and are able
recycle, along with creating more jobs and allowing us to
ultimately increase our turnover.
"Government targets are set at 85 per cent of waste recycled by
2013 and we are already comfortably meeting this two years ahead of
time. We plan to far exceed it before their deadline, thanks to the
funding we've received from Lloyds TSB Commercial."
Darren Riley, relationship director for Lloyds TSB Commercial,
said: "The company is a well-recognised name in West Bromwich with
homeowners and builders alike. It provides a vital service to the
area and it's great that this more workable space will allow them
to continue to do so.
"Lloyds TSB Commercial is committed to working with
environmentally friendly businesses that want to decrease their
carbon footprint, and Need a Skip Ltd is a prime example of this.
With further plans for growth, they are on track for a successful
year ahead - both in decreasing the amount of waste sent to
landfill and increasing the size of their business.
"EIB is one of the innovative ways we use to provide funding to
customers. Need a Skip Ltd was an ideal candidate for an EIB loan,
and this meant we could offer an even more competitive loan rate
for the expansion of the premises."