Heartlands Furniture, a Smethwick-based furniture wholesaler, is planning to expand with the help of £6m of funding. The proposed expansion programme includes purchasing a range of new equipment and could create eight new jobs for the local area.
The company, which was founded in 2002, already employs 55 people. It sources high-quality furniture from the Far East and Brazil and distributes it to retailers across the UK. Its ranges include dining sets, coffee tables, book cases, sofas, beds and bedroom furniture.
With part of the £6.2m loan secured from Lloyds Bank Commercial Banking the company has recently acquired a new premises on Cranford Street in Smethwick. The new site and equipment will allow Heartlands Furniture to increase its productivity and therefore its turnover.
The company will use some of the investment finance to expand its fleet by purchasing three new trailers, a tractor unit and two new trucks. The fleet expansion will help to distribute furniture swiftly to its many clients around the country.
The bank’s finance package also includes a working capital facility to support the firm’s export purchasing, enabling Heartlands Furniture to turn its growth strategy into a reality.