Funding from Lloyds bank has allowed KHL logistics to build a 2,400 sq ft workshop and invest in its fleet of vehicles.
The six-figure funding package was supplied by Lloyds Bank Commercial Banking.
KHL Logistics used £80,000 of funding to construct a workshop at its premises on St David’s Road, Swansea Enterprise Park.
It also allowed the company to purchase a new rolling road machine, which simulates road conditions to test vehicles breaks.
This means the logistics firm can now service its fleet of 14 lorries on site, decreasing the time takes to conduct routine tests that previously had to be outsourced.
They also secured a £200,000 hire purchase and leasing facility to buy a new lorry.
The investment forms the basis of the company’s growth plans with a predicted 23% increase in turnover by next year.
Estelle Burbear, director at KHL said: “We have to carry out tests on our vehicles regularly, so having the equipment on site will considerably reduce the amount of time the lorries are in the workshop.
“Investing in the new lorry is part of our commitment to renewing our fleet of vehicles. This is a significant expenditure for the company, but by securing a hire purchase and leasing facility we’ve been able to spread the cost over a set period of time.
“Since we switched to Lloyds Bank in 2011 we’ve been overwhelmed by the service we’ve received from our relationship manager, Jonathan Richards, and the rest of the Lloyds Bank team. They completely understand our aims and they’re always on hand to provide the support that we need to grow.”
KHL Logistics was founded by Karl and Alf Leswisse in 1990, when Karl Leswisse bought one lorry and started working with a small number of car dealers in Swansea, transporting cars to auction in Newport.
Since then the business has grown significantly, works with more than 100 clients across the UK, and employs 24 people from the local area.