Roydon gets sorted with loan cash

A WASTE management company is investing more than £2m in new equipment to expand and boost productivity.

Salford-based Roydon Group has sealed a £2,.6m asset finance package from Barclays to have a new sorting machine custom built,

The Swinton company recycles polythene film and plastic bottles, and also sorts paper, card, and metal cans for recycling elsewhere.

The funding deal was arranged by Robin Richards a relationship director at Barclays and Sarah Pickering from Barclays Asset Finance.
                                      
The bank is providing the finance under the new National Loan Guarantee Scheme, which means that SMEs taking out a loan will receive the full benefit of the NLGS discount immediately in the form of upfront cash back.  

Roydon Group director Wilf Sumner said: “We are using this funding to purchase a new sorting machine which will enable the business to expand.

“The 1% discount through the Barclays cash back scheme equates to £30,000 and is going to help us even further by funding some of the additional electrical works needed for the project.”

Robin Richards added: “This is a significant moment for Roydon Group; it demonstrates our confidence in the business model and provides a blueprint of how visionary companies can achieve their commercial aims with the right support.”