SV Wadsworth secures £380,000 funding
A solicitors' firm in Shirley has bought the freehold of its premises using a £380,000 funding package from Lloyds TSB Commercial.
SV Wadsworth & Co, based on Stratford Road, specialises in litigation services, conveyancing, wills and probate.
The firm, which is celebrating its 25th anniversary this year, secured government-backed Enterprise Finance Guarantee (EFG) funding for £100,000 along with a European Investment Bank (EIB) loan for £280,000.
Managing director John Wadsworth said the company planned to build on the security gained from owning its office space to broaden its client base and increase its corporate work.
He added: "We always wanted to purchase our premises but with deposit requirements so high and any profits we make being ploughed back into the business, it had not been previously possible. After approaching Lloyds TSB Commercial for their support we have been able to secure an EFG loan which has given us the opportunity to be able to cement our future.
"Offering a range of services for our customers gives our business great stability because when one area slows down, another inevitably gets busier, giving us a good balance of income.
"This is a family-run business with seven family members involved and most of its staff having worked here for many years."
The firm, which was founded by Stephen Wadsworth in 1986, currently employs 16 members of staff.
