Santander funds expansion at motor home retailer
Elite Motorhomes Group, one of the UK's largest retailers of motor homes, has secured a £1.17m funding deal with Santander Corporate & Commercial that will help the family-owned group increase its stock levels and purchase the freehold on its Banbury site from non-family members. There is also flexibility for the funding to increase by a further £250,000 in January if market conditions remain conducive for further growth. The firm is on track to increase its turnover by 20% from £10m in 2015 to £12m in 2016, as it enjoys record customer demand. Andrew Bullock, relationship director for Santander Corporate & Commercial, said: 'Elite Motorhomes has developed into a leading brand in its sector thanks to the long-term foresight of the management team. The firm is clearly poised for further growth and we are delighted that Santander has been able to support the business at this key time.'
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