Filling station to double its workforce in major revamp
The £1.3m redevelopment of a filling station in Magherafelt has led to the creation of 17 new jobs for the area.
The BP branded filling station on the Moneymore Road in the town is set to increase its workforce to 30 from 13 before the overhaul.
Some of the funding for the project was provided by Ulster Bank through a special European fund.
The station, which is owned and managed by Kilrea-based Kenny Bradley, has been revamped to include a 4,000 sq ft convenience store with a hot food bar and off-licence.
Mr Bradley has a range of service station and convenience store interests in Magherafelt, Kilrea and Randalstown.
Allen Reid, a business manager with Ulster Bank, which provided a European Investment Bank subsidised loan facility of £600,000 to support the redevelopment, said: "Ulster Bank has worked with Kenny and his businesses for a number of years, and we were keen to support this investment because of Kenny's enterprising approach, his sound business plan and the potential we knew was there for this particular site.
"The loan we have provided is from a special facility intended to help small to medium-sized businesses and is subsidised by the European Investment Bank. As a bank, we are strongly committed to supporting the SME sector, through EIB, and through a range of other loan facilities for small and medium-sized enterprises that we have made available. We have a £300m SME fund available and are very keen to support good SME businesses."
Ulster Bank has entered into an agreement with the European Investment Bank to allow it to provide lower cost long-term loans to small and medium-sized enterprises.