A Worcester-based removal firm has secured a £150,000 funding package.
Warren’s Removals and Storage secured funding from the Midlands Engine Investment Fund’s (MEIF) MEIF WM Small Business Loan Fund, which managed by BCRS Business Loans.
The deal was also backed by the Coronavirus Business Interruption Loan Scheme (CBILS), which has now been replaced by the Recovery Loan Scheme.
Funding will allow Warren’s Removals and Storage to move into larger commercial premises, allowing the firm to streamline its operations by bringing four separate sites under one roof. Additional vehicles will also be purchased, and ten new jobs are set to be created to achieve growth plans.
Established in 2014 by Warren Leggett, Warren’s Removals and Storage specialise in providing removal and storage services for both domestic and commercial clients.
Warren Leggett, founder and managing director of Warren’s Removals and Storage, said:
“We are delighted to have secured this £150,000 funding boost to take Warren’s Removal and Storage to the next level.
“Despite being hit with job cancellations and postponements during the first Coronavirus lockdown, the subsequent surge in house sales resulted in a very strong successive period for us.
“We are receiving a strong number of enquiries for future jobs, which is a result of our web presence and word-of-mouth recommendations from customers who appreciate our full-service approach to removal. We always make sure we go the extra mile by removing and detaching furniture, wall-mounted TVs, pictures, and even appliances.
“Securing this investment will allow us to kickstart important growth plans that will ultimately allow us to capitalise on this strong demand, as demonstrated by our confirmed order book, and we thank BCRS for making this possible.”
Angie Preece, a senior business development manager at BCRS Business Loans, said:
“We are so pleased to have delivered the funding that Warren’s Removal and Storage need via the MEIF WM Small Business Loan Fund in order to achieve their growth plans.
“As a lender that delivers funding for intentional social and economic impact, it is great news that ten new jobs will be created by Warren’s Removals and Storage.”
Ryan Cartwright, senior manager at the British Business Bank, said:
“This latest funding package will allow Warren’s Removal to expand its services – creating 10 new job roles in the process. We encourage other businesses in the Worcestershire area to consider MEIF funding.”
The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
The Coronavirus Business Interruption Loan Scheme (CBILS) was managed by the British Business Bank on behalf of, and with the financial backing of, the Secretary of State for Business, Energy and Industrial Strategy (BEIS). The scheme ended on 31 March and has been replaced by the Recovery Loan Scheme.
Businesses in the West Midlands region that are struggling to access finance from traditional lenders can secure loans from £10,000 to £150,000 from BCRS Business Loans to support growth and recovery plans. BCRS is a delivery partner for the Recovery Loan Scheme (RLS).
Visit www.bcrs.org.uk to discover more or submit an initial application form.
To find out more about Warren’s Removals visit www.warrensremovals.com