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Aldermore Bank provides Triumph Furniture with £3.5 million financing agreement

POSTED: 13th March 2014
IN: Newsroom
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Aldermore, Britain's leading challenger bank, has provided £3.5 million in finances to Triumph Furniture, a leading supplier of corporate furniture based in Merthyr Tydfil.

Triumph has built workplace furniture for both large corporations and small businesses across the country for more than seventy years.

Aldermore provided Triumph with £3.5 million to cover working capital, whilst providing a loan for Triumph to purchase new company equipment.

Tony Mogridge, Finance Director at Triumph Furniture, says:"Triumph prides itself on building cutting-edge furniture to businesses in the UK. However, staying ahead of the competition is always tough in the furniture industry. As well as employing the best designers, who come up with excellent pieces of furniture, it's vital that we have the best and most suitable equipment to construct our furniture.

"Maintaining a healthy cashflow and replacing tools can be an expensive process, so thankfully Aldermore stepped in. Their help will allow Triumph to grow for the future."

Paul Bowden, Regional Sales Manager at Aldermore, comments:"Triumph were provided with £3 million in invoice finance, whilst our asset finance department helped them to the tune of half a million pounds.

"We are delighted to have helped a local business that has such an impact. We hope that they will continue to grow with our continued support."

Since its inception in 2009, Aldermore has lent over £1.6 billion to SMEs in the UK.

**ENDS**

For further information journalists can contact:

Christina Bridge, Cicero Group

christina.bridge@cicero-group.com

Tel: 020 7947 5317

For further information about Aldermore, our financial backers and our PR contacts, please review our Notes to Editors page. 

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