Metro Bank provides £4.5m funding package for waste management firm
Metro Bank has provided waste management company Slicker Recycling with a seven-figure boost.
The package includes a £3.5m invoice finance facility and £1m asset finance line to help the Stourport-based company expand.
Slicker Recycling collects and recycles hazardous workshop waste for the automotive, transport and construction industries.
The firm employs more than 170 people across a network of waste transfer stations, depots and processing plants.
Metro Bank’s managing director of commercial banking, Mark Stokes, said: “Our large commercial team [worked] hand-in-hand with our invoice and asset finance teams to provide Slicker Recycling with a package tailored to their needs.
“Slicker Recycling has some really exciting plans in the pipeline and we look forward to helping them realise them over the years to come.”
Mark Olpin, managing director of Slicker Recycling, commented: “It’s been a fast moving and exciting few years at Slicker Recycling with much more to come, so the business needed a banking partner that would be agile and flexible enough to support our growth aspirations.
“Metro Bank’s entrepreneurial approach matched Slicker’s philosophy and culture perfectly and therefore was an easy choice to make.”