Member Article

Van hire business look for growth

North East vehicle rental firm, Durham Van Hire will expand into the MOT and service market, in an effort to drive profits.

After securing finance from Boost Capital, the Langley Moor-based firm, plan to expand their services and pursue new market opportunities.

Durham expand existing premises and relocate offices, to include MOT and car repair capabilities.

Co-director Neil Carr, said: “As a business we decided that there was no reason to let a challenging economic environment slow our growth, in fact it offered us a great opportunity to expand our services.

“This has turned out to be the right time for us to push into a new market and make better use of our existing premises by accessing some growth capital.”

The 30-year-old firm provide van hires for short and long term contracts, and will add new staff to support the expansion.

Boost Capital has enabled the business to leverage their historic and future credit sales to access unsecured funding needed for the expansion.

Business owners who accept credit and debit cards can qualify for an advance of £5,000 to £500,000 in 24 hours.

David Abbott, Managing Director of Boost Capital, said: “We were impressed by the Management team at Durham Van Hire and their expansion plans, and were very keen to support their plans for growth.

“The team has a strong vision, a great track record and therefore I am certain that they will do very well as they expand their existing services into the MOT and repair market.”

This was posted in Bdaily's Members' News section by Tom Keighley .