Banking on waste
Banks are still keen to invest in waste firms large and small, according to a leading financier from Lloyds TSB.
The bank’s corporate markets relationship director, Stefan Friedhoff, explained at RWM that while the financial world was ‘tightening credit’ good waste businesses will survive.
Mr Friedhoff says financial institutions still find the waste business ‘appealing’ as the increased European Union pressure on local authorities to reduce what we throw away and the fact we’ll always be producing rubbish.
He also said waste businesses large or small will need to get long term contracts with either the private or public sector to make sure they can secure the best funding from their banks.
Public Finance Initiatives (PFI) were an area waste business looking to expand should investigate more, said Mr Friedhoff, pointing out the controversial Greater Manchester PFI benefited from direct bank funding.
He said: “PFIs that’s what everyone going to be watching during the course of the next 18 months.
“The Greater Manchester PFI is a landmark it took more than two years to get to where it is and is the first project to benefit with direct funding from the European Investment Bank.”