Parkfield buys premises after securing new finance deal

A BIRMINGHAM building services business looking for expansion has purchased its premises after securing a new finance deal.

Parkfield Building Services, based in Witton, has carried out the acquisition with the support of a £100,000 loan from Lloyds Bank Commercial Banking.

The family-run business offers a range of building, decorating and maintenance services to domestic and commercial customers, including plastering, plumbing conversions and building extensions.
 
The business, which was established in 2008 and currently employs 15 members of staff, needed to move from its rented property in Aston and purchase its own larger premises after expanding its range of services.
 
Directors Ernest and Janet, and their two sons Dean and Craig, approached Lloyds Bank for the funding support to purchase three units on Chancel Way in Witton.

The bank agreed and supplied the finance through the Funding for Lending Scheme, which offers discounts of 1% to all SMEs in all sectors for the life of their loan
 
Parkfield plans to use one of the units as office and conference space, the second as storage and it is planning to rent out the final building to generate additional funds.
 
Dean Bick, director at Parkfield Building Services, said: “We are a family business and pride ourselves on our fair and honest approach to our work and we’ve built up a great national client base across the domestic and commercial sectors.
 
“We are eager to now embark on the next stage of our growth in our own larger space. Moving out of rented premises is important for us as we expand to give us more stability and protect against future rent rises.
 
“We have banked with Lloyds Bank Commercial Banking since the outset and the team’s guidance and support has been instrumental in the growth of the company.”
 
Inderjeet Malhi, relationship manager at Lloyds Bank Commercial Banking, said: “Parkfield Building Services was a start-up business with us and, since its inception in 2008, it has gone from strength to strength, building a solid client base on recommendations of its quality work.
 
“Ernest, Janet, Dean and Craig are a hard-working and reliable team and their commitment to the growth of the business means they are now in a great position to take on their own premises and expand their client base.”