Equipment finance facility will help company expand its services to customers
Funding is part of HSBC’s £700m commitment to supporting SME growth in the South West
The Bristol business, Blue Group, that sells heavy plant equipment to the waste and quarrying industries has secured a multi-million pound equipment finance facility from HSBC, helping it further support its customer base by offering a rental option on its products.
Blue Group, which sells almost £2 million worth of equipment to businesses across the UK each week, is using the funding to purchase its own stock which can be hired by companies that need instant access to machinery.
Brian Maxwell, Group Director at Blue, said:
“We recognised that a growing number of customers were looking to hire equipment when they needed it quickly, so we made it part of our strategy to offer this service to meet this rising demand. With the funding in place from HSBC, we’re giving clients the chance to get hold of equipment almost instantly, offering them more flexibility. The rental business complements the sales business perfectly as it provides a complete solution for our loyal customers.”
James Shepherd, HSBC’s Area Director for Avon, Gloucestershire and Wiltshire, commented:
“Entering the rental market can be challenging for some machinery businesses as it can often be hard to get adequate funding in place. Blue Machinery has a great reputation in the industry for delivering a high quality service to its clients, so we were pleased to offer them a finance package that will help support their ambitious growth plans over the next few years.”
Blue Group was established in 2004 and is now the UK’s leading provider of material handling equipment, including crushers, chippers, screeners and shredders. It is the latest business to take advantage of HSBC’s £700 million lending fund which has been made available to small and medium-sized enterprises (SMEs) in the South West.