Need A Skip grows with EIB funds
A West Bromwich waste management company has expanded its premises after securing a six-figure European Investment Bank (EIB) loan from Lloyds TSB Commercial.
Need A Skip, based on Brandon Way, separates the recyclable materials from waste, which can then be sold as a commodity. The company also provides skip hire throughout the West Midlands.
The six-figure loan has allowed Need A Skip to expand its premises in West Bromwich by an extra 3,500 sq ft and increase its recycling to at least 90 per cent of all materials acquired.
The loan was made through the EIB scheme, which allows firms to secure standard fixed or base rate loans with a 0.80 per cent interest rate discount.
Need A Skip, which currently employs 48 people, plans to create a further five positions at the new site. The company also aims to increase turnover by £1m in the next 12 months.
Stephen Butler, director at Need A Skip, said: “We service all the major house builders along with many local construction companies and homeowners, taking in huge amounts of waste every day. It is therefore important that we dispose of it in the most environmentally friendly way possible.
“The new larger premises give us the capacity to further increase the amount of building materials we take in and are able recycle, along with creating more jobs and allowing us to ultimately increase our turnover."
