Trade Vehicle Parts secures significant funding
- Posted by: Alan Feldberg
- Category: News
Automotive supplier Trade Vehicle Parts has secured a seven-figure funding package from HSBC UK to source more vehicle parts from around the globe.
The additional finance will enable the company import core stock from the likes of Taiwan, China, and Poland, while also refinancing the commercial mortgage for its 17000 sqft. Melton Mowbray headquarters.
The deal is expected to result in a 50% increase in turnover over the next three years.
Deyan Petrovski, owner and director at Trade Vehicle Parts, said: “This funding from HSBC UK is a crucial milestone in our growth journey. Operating in an industry where working closely with international suppliers is so important, we are grateful for the ability to maximise our cashflow due to HSBC’s international footprint.”
Kim King, deputy area director at HSBC UK, said: “Trade Vehicle Parts is an ambitious business which provides a fantastic and essential service to vehicle owners and organisations across the country. We’re pleased to assist the business’s growth with domestic and international support.”