Pictured: (l-r) David Hanson (NatWest), Daniel Troop
(F Troop & Son), Dave Fisher (NatWest), Rodney Troop (F Troop
& Son)
Longstanding Lincolnshire family business F Troop & Sons
Ltd, locally known as Troops, have entered into a new banking
partnership with NatWest to provide their funding following the
expansion of the business with the opening of a new petrol station
and retail store on Farndon Road, Newark.
The motor trade business which is run by husband and wife Rodney
& Caroline Troop has over 50 years of experience in serving the
local community through the sale of petrol, operation of
convenience stores, the sale of motor vehicles and the service and
repair of motor vehicles through their workshop and accident repair
centre. Whilst predominantly specialising in Vauxhall, all makes of
vehicle are catered for from their Leadenham base.
The directors have developed their former dealership site at
Farndon, adjacent to the new A46 dual carriageway. The site has
been rebuilt to provide new petrol station and retail
facilities which is being operated by Spar. The site is now
fully operational and exceeding all budgeted expectations.
The new banking relationship with NatWest has seen the bank
extend funding to support the Farndon development as well as
restructuring existing facilities to support the ongoing trading
business, which continues to trade well despite the ongoing
economic difficulties.
Speaking about their plans for the future and their new banking
partnership, Rodney Troop said: "Farndon is an exciting investment
for us and we are delighted to have secured the funding necessary
to support it and our other business operations. NatWest have
understood the vision we have for the business and put together a
funding package that covers the cost of the Farndon Road project as
well as providing funding for the main trading business.
Importantly this provides both flexibility and additional headroom
to manage our cash flow requirements both now and in the future as
our son Daniel and his wife Nicki look to continue as the fourth
generation in the family business. Besides the funding package a
key advantage to us in switching to NatWest is the availability of
local support, people we can meet and talk to on a regular
basis."
Dave Fisher, director, business development, commercial banking
at NatWest in Lincoln put together the funding package. He added:
"Rodney & Caroline have built a strong business and developed a
tremendous reputation locally for providing friendly and efficient
service. The Leadenham operation continues to service a loyal and
growing customer base. The Farndon site is well positioned close to
the new A46 dual carriageway which is predicted to carry heavy
traffic once fully operational. This, combined with securing Spar
as a long term tenant vindicates the investment decision."