Independent school has a timetable for growth thanks to £2 million funding package

Date: 07-01-2019

Tagged as: Case StudyEducationLoans and Finance

An award-winning independent school is set to complete an ambitious expansion plan that will see it significantly increase its student numbers by 2020, after securing a £2 million loan from Lloyds Bank Commercial Banking.

St Joseph’s College in Reading said the new funding will support its strategic plan to renovate its facilities, attract more students and better promote its education offer.

The school, which celebrates its 125th anniversary in 2019, is well-known for the creative excellence of its students and has a proven record of delivering academic results for its pupils.

A significant milestone

The school has been working with Lloyds Bank Commercial Banking for six years.

Most recently, it used a £850,000 loan to open a new music centre, reflecting the school’s ambition for pupils to express themselves and develop greater self-confidence through the arts.

"The team at Lloyds Bank has been with us from the very beginning of our strategic plan and have been integral to our success"

Anthony Leggett, bursar at St Joseph’s College

"The completion of the new music centre has been a significant milestone for our school. We’ve always encouraged our students to engage with the arts as its crucial for their overall development and the new facilities will allow us to do just that.

"We’re now in a position where most of our year groups are running at maximum capacity and we have children traveling from as far as Oxford and London to attend."

Peter Evans, relationship director at Lloyds Bank Commercial Banking, said: “St Joseph’s College Reading has a rich history in the arts and its students have performed in cultural hotspots such as Rome, Paris and Venice.

"The new music block will serve as a way for students to reach their full potential, both creatively and academically."

Peter Evans, relationship director at Lloyds Bank Commercial Banking

Specialist support

The centre boasts eight new practice rooms, three class rooms and a recording studio.

The loan was also used to buy three grand pianos and 10 new upright pianos, 13 keyboards and introduce new equipment where pupils can compose music and transfer it directly to computer software.

Lloyds Bank is committed to helping Britain prosper and has a team of specialist relationship managers that can support businesses operating in the education sector.

All lending is subject to status.

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