Home Business NewsBusinessAutomotive News New vehicles drive expansion for London cleaning firm thanks to HSBC UK funding

New vehicles drive expansion for London cleaning firm thanks to HSBC UK funding

by LLB Finance Reporter
18th Aug 23 6:49 am

A South-East London business which kept the streets of London spotless for the King’s coronation has expanded its fleet with support from HSBC UK.

JM Clark, based in Erith, has secured a seven-figure funding package from HSBC UK to purchase 12 new high-quality vehicles including road sweepers and bitumen sprayers which are an important tool for surfacing roads.

HSBC UK also supplied a temporary overdraft to the business to support the purchase of new equipment from Germany.

JM Clark is an established road sweeping and road surfacing company who also offer vehicles for hire for a range of different services including waste management, vehicle removal and jet washing.

The funding is expected to lead to 15 new jobs as the business seeks to build on its strong growth since beginning operations in 2012. Now boasting a fleet of more than 50 vehicles and 60 employees, JM Clark is set to expand operations outside of London and the Home Counties, offering its services to the wider UK.

Turnover is forecasted to rise by more than one-third by the end of this year with further growth of 20 per cent and 10 per cent for the following two years.

In addition, HSBC UK has also supported JM Clark with overdraft, property development, and mortgage support for the company’s warehouse since the partnership began in 2020.

Lee Cairns, Director at JM Clark, said, “We are very grateful to HSBC UK for the support provided to JM Clark over the past two and half years. It has been integral to growing the business to where we are today.”

Elisha Sterling, Corporate Account Manager, Equipment Finance at HSBC UK, added, “Supporting businesses like JM Clark with funding for new equipment is one of the core services we offer at HSBC UK.

“Securing the contract for the recent coronation is testament to the company’s high-quality work, and we are excited to continue our support for JM Clark as the business expands across the country.”

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