Lincolnshire-based waste management, earthmoving and demolition company Grantham Industries has secured a £500,000 finance facility from Paragon Bank’s SME Lending division to support the purchase of a commercial waste site in Rutland.
The £500,000 funding will also enable Grantham Industries to renovate the site, building the existing waste transfer station into a waste and recycling centre offering a broader package of services to the local area. The new site in Rutland has expanded the company’s geographical presence, building on its existing operations in Louth, Lincoln and Doncaster.
In addition to the funding facility, Paragon has also recently supported Grantham Industries with a £198,000 asset finance package to purchase a Volvo Wheel Loader for use on one of its current waste transfer sites, expanding its fleet of vehicles.
Grantham Industries offers a range of services under its GBM Demolition, GBM Plant Services and GBM Waste Management brands. The company was started in 2001 by Managing Director Simon Grantham and his brother Andrew Grantham.
The company employs over 90 people and operates across the country.
This deal has been led on behalf of Paragon’s SME Lending division by Henry Oakes, Business Development Manager in the Vendor team, headed by Terry Lloyd.
Grantham Industries Finance Director Leanne Fairburn said: “We had a very specific requirement to purchase a waste site and were looking for a lender to support this transaction. We were delighted that Paragon could support us with a funding facility, building on our existing relationship with the bank after purchasing equipment previously.
“Purchasing the site in Rutland will be a new opportunity for us to expand our footprint and proposition, and we’re grateful to Henry and the Paragon team for all their help in making this a smooth process.”
Business Development Manager Henry Oakes added: “It’s been a pleasure to help Grantham Industries expand its business and purchase the site which will undoubtedly bring about new opportunities for them.
“At Paragon we strive to support clients with their business goals through various financing options, so we were thrilled to be able to arrange a funding facility for Grantham Industries.”
