Paint Shed secures £350k for expansion

The company, which opened its first shop in Edinburgh in 1984 and now operates eight stores across the central belt, is to open ten shops over the next five years.

Its expansion will be focused on Inverness and the northeast of England. It currently employs 20 tradesmen.

Jonathan Bowie, managing director, said: “Even in the current economic environment, the painting and decorating trade continues to thrive, and many individuals are upgrading their properties. That is why we have taken the decision to increase the number of outlets.”

Simon Kerr, managing partner at Clydesdale Bank’s Edinburgh Financial Solutions Centre, said: “The Paint Shed was introduced to us through the Entrepreneurial Exchange. After speaking to Jonathan and the other members of the team, we gained a good understanding of the company’s growth ambitions and were eager to support them.”

Clydesdale Bank has 16 financial solutions centres in Scotland and 73 across the UK which have been a key factor in building its relationship with smaller businesses,

Clydesdale and its sister bank Yorkshire, part of the National Australia Bank, announced last month that they had issued £12.2 billion of new loans in the past two years, outstripping the commitment made two years ago to lend £10bn.