Sandicliffe lands £11m deal to fund expansion

Darren Beddard and Matt Vincent

An automotive group headquartered in Loughborough is set to open a new base in Nottingham after landing a £11m funding facility from Lloyds Bank Commercial Banking.

Sandicliffe Motor Holdings has a motor retail dealership arm of the business, with twelve showrooms across the East Midlands. The firm sells over 19,000 vehicles a year, with brands including Ford, Nissan, Mazda, Skoda and Kia.

Sandicliffe is set to build a new, larger premises on Abbeyfield Road in Nottingham, which is set to open towards the end of this year.

The management team turned to Lloyds Bank for a revolving credit facility to support the operational management of the site, recruit additional colleagues and provide investment funds for future development plans.

Darren Beddard, group finance director at Sandicliffe Motor Holdings, said: “We are a family-run business, and have established a trusted reputation locally and nationally since starting almost 70 years ago. We have achieved this through continued hard work and offering our customers the best service and vehicles possible.

“The funding from Lloyds Bank has given us the capital needed to help our day-to-day cash flow needs, and look for other growth opportunities across the East Midlands region.”

Matt Vincent, relationship director for mid-markets in the East Midlands at Lloyds Bank Commercial Banking, said: “Sandicliffe Motor Holdings is a flagship name in the automotive sector across the East Midlands, and Lloyds Bank has been pleased to have become the new banking partner for the business.

“This latest funding package underlines our commitment to helping Britain prosper by supporting ambitious businesses like Sandcliffe Motor Holdings as they bolster the local and national economy.”

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