The new premises are located only two doors from the original dealership and will create additional jobs in the business as Newcastle Motorcycles expects turnover to increase by 50% over the coming three years.
David Slane, area director at HSBC Tyne and Tees, said: "This deal was led by HSBC relationship director Gary Young who worked closely with the team at Newcastle Motorcycles to supply the most suitable finances for their expansion and their evolving needs."
The funding comes from the bank’s national £10bn SME fund for actively supporting UK SMEs. £285m is specifically designated to support firms in the Tyne Tees & Cumbria and rebalance the economy outside of London.
Craig Smith, dealer principal at Newcastle Motorcycles, said: "Moving our banking was something we spent a lot of time discussing and it was not a decision that was made lightly. HSBC has offered us incredible support and enabled us to expand our business through the new dealership. Our turnover is set to increase over this next three years and we are thinking about the direction of the business with HSBC by our side."
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