Supporting the Automotive Supply Chain
At Lloyds Bank Commercial Banking we’re pleased to help support the growth ambitions of UK automotive manufacturers. We have a deep understanding of the automotive manufacturing supply chain and offer a range of solutions that meet the specific needs of manufacturers working within it.
Businesses in the automotive supply chain often need to invest in bespoke tools to complete contracts and need specialist support to help them deliver on these valuable opportunities.
Tooling Finance can be the solution they need and it is tailored to the needs of manufacturers working in the automotive supply chain, and can provide up to 90 per cent of the project cost upfront, with typical terms of up to 24 months.
By freeing up cash that would otherwise be tied up in machinery, Tooling Finance aims to take the pressure off working capital and help provide ambitious businesses with the capital to invest in growth.
Dave Atkinson, UK Head of Manufacturing for Lloyds Bank Commercial Banking, said: “We have a deep understanding of automotive manufacturing and know that the UK is one of the most attractive locations for investment in the sector.
“As a result, our clients through the supply chain are seeing increasing opportunities for growth.
“We also understand that high up-front costs can make investing in growth very difficult for firms that are looking to grow.
“To help them, we offer a tooling finance solution that supports automotive manufacturers and suppliers in funding bespoke tooling.
“With end production sometimes not occurring until 12-24 months after tooling requirements are identified, cash flow pressures can affect working capital. Tooling Finance can help alleviate that pressure.”
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