Timico bank boost for new warehouse
Newark-based Timico has switched banks to Santander Corporate Banking. The business-to-business internet service provider is also being provided with a loan to help it build a new 20,000 sq ft hosting facility in the East Midlands.
Santander Corporate Banking is to provide a full banking service for the business including working capital finance, various commercial bonds and a loan to help it build the new data warehouse next to its existing site.
Joe Duane, relationship director for the East Midlands at Santander Corporate Banking, said: “Timico is an established and well-capitalised business with a very strong management team operating in a sector which it knows well and we are delighted to have them as a customer.
“We have developed a good understanding of Timico’s business model and aim to build a strong relationship with the group supporting them in delivering their ambitious plans for continued growth.”
Timico was recently ranked as one of the fastest growing technology companies in the UK in the Sunday Times Tech Track 100 index with annual sales growth of 49 per cent over the past three years.
