Dec 17

Premiere Travel secures six-figure funding package through Affinity Asset Finance Ltd

Posted: 17 December 2012 by admin

Nottingham-based regional transport provider Premiere Travel has secured a six-figure banking package to support its continued growth.

The transaction was arranged by Neil Kimberley of Affinity Asset Finance, a national finance intermediary for businesses looking to secure funding, together with joint venture partner Paul Goodman of Goodman Corporate Consultancy.

The finance has been provided by Neil Wade from The Co-operative Bank's corporate banking centre in Nottingham.

“Our previous finance facilities were effectively strangling the business when they should have been supporting our plans for profitable growth,” managing director and owner Stephen Greaves said.

“We have used Neil Kimberley from Affinity Asset Finance for a number of years and he has always structured excellent vehicle funding solutions for us. Working with him to move our commercial banking means we now have the appropriate funding arrangements in place to support our growth ambitions.”

Premiere Travel is a family owned bus and coach operator largely serving the Nottinghamshire area.

The company was formed in 2002 with a pair of Leyland Nationals and has developed to provide local bus services for about 50 routes.

Neil Wade, business development manager at The Co-operative Bank, added: “Premiere Travel's situation was common to that of many companies we speak at the moment – they no longer felt they were getting the support they needed from one of the main banking providers.”

News source – full story at Insider News