Lancashire-based C&S Coaches is targeting future expansion after purchasing its premises with funding from Yorkshire Bank.
Employing 16 members of staff, the family-run business spent £312,000 purchasing the facility it previously rented.
The deal was conducted by Paul Williams, Relationship Manager at Yorkshire Bank’s Business and Private Banking Centre in Bolton.
Managing Director David Brennan bought C&S Coaches 20 years ago and has grown the business’ fleet in that time from 3 vehicles to 17.
The firm handles both public and private contracts with the majority of its routes dedicated to transporting disabled children to and from schools.
C&S Coaches expanded its offering in 2011 opening an MOT and service garage for cars, vans and minibuses. With the recent premises purchase, the business is targeting further growth.
David said: “Purchasing our premises has helped us significantly improve our business. Our future in the area has been cemented and we are making significant savings on our rent.
“With Yorkshire Bank’s support we can re-invest savings from the purchase into continued improvement and expansion of the business.”
Sean Williams, Head of Yorkshire Bank’s Business and Private Banking Centre in Manchester, said: “C&S Coaches’ recent purchase is proof of its commitment to continue serving the local community.”
“David has been able to take advantage of Yorkshire Bank’s flexible funding packages that are tailored specifically to SME businesses to assist deliver their growth ambitions.”
“Yorkshire Bank is proud to support businesses looking for opportunities to expand. The move that David and his business have made gives them a secure base which will provide a platform for further investment and growth.”
Yorkshire Bank recently launched a series of lending initiatives for UK businesses, designed to encourage growth for new and existing customers. As well as capital-free periods for up to five years, the Bank has also introduced high percentage funding for businesses to purchase trading premises.