Yorkshire Bank funding helps mechanic buy premises

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20/09/2017

John Hall, trading as J Hall Motor Vehicle Engineer, is a Barnsley based car mechanic and has been a Yorkshire Bank customer for over 25 years.

John was very keen to purchase the business’ trading premises, but required funding support – through the business John was only able to raise a 15% cash deposit. However, due to consistently strong profits over a long period of time, Yorkshire Bank was willing to lend John 85% of the purchase price on the premises.

Established local business

John has worked as a car mechanic in Barnsley all his working life. He has been very successful in building a strong local reputation and recognisable brand, thanks to quality service and reliability over many years.

The business had been leasing their trading premises for 20 years when the opportunity arose to purchase the property. The acquisition was extremely important to John as he had invested a lot of time and money into the premises over the years in maintenance and internal improvements.

John was delighted with the service and support provided by Yorkshire Bank. The acquisition now gives him the stability that comes with assurance of keeping the building and having full control of the units.

John said: "Acquiring the premises will make a significant difference to the business and I greatly appreciate the support from Jonathan in helping us achieve this.”