Waste management firm bags six-figure funding for new site

A £500,000 finance facility has been secured to help expand a Lincolnshire-based waste management’s reach with a new commercial waste site in Rutland.

Grantham Industries will use the funding to purchase and renovate the site, transforming an existing waste transfer station into a full-service waste and recycling centre.

The expansion adds to the company’s current sites in Louth, Lincoln and Doncaster.

Grantham Industries has also recently expanded its fleet with a £198,000 asset finance package to purchase a Volvo Wheel Loader.

Founded in 2001 by Simon and Andrew Grantham, the company now employs over 90 people and offers services under its GBM Demolition, GBM Plant Services and GBM Waste Management brands.

Grantham Industries finance director Leanne Fairburn said: “We had a very specific requirement to purchase a waste site and were looking for a lender to support this transaction. We were delighted that Paragon could support us with a funding facility, building on our existing relationship with the bank after purchasing equipment previously.

“Purchasing the site in Rutland will be a new opportunity for us to expand our footprint and proposition, and we’re grateful to Henry and the Paragon team for all their help in making this a smooth process.”

The deal was  led on behalf of Paragon’s SME Lending division by Henry Oakes, business development manager in the Vendor team, headed by Terry Lloyd.

Oakes said: “It’s been a pleasure to help Grantham Industries expand its business and purchase the site which will undoubtedly bring about new opportunities for them. At Paragon we strive to support clients with their business goals through various financing options, so we were thrilled to be able to arrange a funding facility for Grantham Industries.”