Thanks to a £203,000 loan provided by Lloyds Bank under the Funding for Lending scheme, Coventry-based BMS Engineering, which specialises in roll cages and tubular assemblies for customers in the motor-sport, automotive and aerospace industries, has purchased the 3,200ft2 Broad Lane premises from which it has operated for a number of years.

The company, which has a range of high-profile clients such as Aston Martin, McLaren and Prodrive, currently has four members of staff but says that there is scope for future job creation, as it plans to invest in new machinery.

Director Phil Boffin said: “Having rented for seven years, we felt that we needed to purchase the premises to give us a secure base from which to grow the firm. As a small manufacturing business, the support from Lloyds Bank has been instrumental in helping us to realise our steady growth plans, and we are now moving towards purchasing new machinery in order to expand our operations.”

Andrew Smith, relationship manager at Lloyds Bank Commercial Banking, said: “BMS Engineering Ltd is a well-established local business with a prestigious client base. The purchase of its existing rented premises marks a pivotal moment in its history.”