Made in the Midlands newsroom

Lloyds UK Head of Manufacturing, David Atkinson

Lloyds Banking Group’s UK Head of Manufacturing, David Atkinson will attend tomorrow's Made in the Midlands Breakfast event at Threeway Pressings, Tipton to announce the launch of Lloyds’ new Auto Tooling Finance solution. 

Based on their deep understanding of automotive manufacturing, Lloyds view the UK as one of the most attractive locations for investment in the sector. To help manufacturers to seize opportunities, Lloyds have developed a Tooling Finance solution that will support automotive manufacturers and suppliers in funding bespoke tooling.

Tooling Finance is designed to ensure that your tooling order book is financially looked after. The solution offers typical terms of up to 24 months and there will be funding provided for up to 90% of the project cost.

If you are an established manufacturing business with a proven track record in the automotive supply chain, Tooling Finance can help businesses to optimise cash flow and control future growth. Lloyds have also announced an incredible pledge of £1bn to the manufacturing sector overall every year until 2017 which is a brilliant signal of their continued support.

There are a vast array of benefits available through engaging with Lloyds’ Finance tooling solution, as it can help alleviate working capital pressure. It also allows you to free up cash which can be tied up in funding tooling and help to strengthen your balance sheet. Lloyds have a range of experienced manufacturing relationship managers, who will help to support your business ambitions. Lloyds will also support your future growth in the tooling business.

Lloyds are dedicated to offering support to British manufacturers and have developed a financial solution that will support the needs of the automotive industry. On top of their £1bn pledge, Lloyds will provide annual sponsorship of £1m over five years to the Lloyds Bank Advanced Manufacturing Training Centre to help support and stabilise the skills gap within the sector. They have also invested in training over 300 manufacturing specialists accredited by the Warwick Manufacturing Group.

If you are interested in this offering, Lloyds will work with you to meet short and long term operational and strategic requirements through a variety of solutions, including their new Tooling Finance solution. To find out more, please contact Mike Middleton via 07764 287279 or email him at: mike.middleton@lloydsbanking.com