Garner Holdings’ unit secures a £1.1m loan for new products lines

LB Plastics has secured a £1.1m loan from Lloyds Bank’s Clean Growth Finance Initiative (CGFI). The fund will help the company to invest in the manufacturing facility for new product lines. The company is owned by Garner Holdings.

The company will deliver a new thermal break product, which will form part of a 100 per cent recyclable aluminium window system, to its associated company Garner Aluminium Extrusions.

Emma Arrell, finance director at Garner Holdings, commented: "The Lloyds Bank team has always championed sustainability and offered us favourable rates as part of their Clean Growth Fund Initiative.

"We’re grateful for the support with purchasing the new machinery, which will be beneficial for our productivity and for the planet.

"Although current conditions have added pressure to our business, we are optimistic about the future and the additional support we’ve received from Lloyds Bank has provided stability for everyone at LB Plastics during this unprecedented time."

Sally Johnson, relationship director at Lloyds Bank, said: "LB Plastics is an ambitious business with exciting plans for future growth. Although manufacturing firms are facing a period of significant uncertainty, it’s important that they have the financial support they need to weather the weeks and months ahead.

"We’re committed to working by the side of these businesses to help them navigate the disruption caused by Covid-19."