Reading: Independent school gets £2m Lloyds backing for expansion plans

An award-winning independent school in Reading is set to complete its 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, based on Upper Redlands Road is a leading independent day school for girls and boys from early years to sixth form. The education provider, which will celebrate its 125th  anniversary next year, is well-known for the creative excellence of its students and has a proven record with delivering high academic results for its pupils.

The school first began working with Lloyds Bank Commercial Banking six years ago as part of its strategic plan to renovate its facilities, attract more students and better promote its independent education offering. Most recently, the school used a £850,000 loan to open a new music centre, reflecting the school’s ambitions for pupils to express themselves and develop greater self-confidence through the arts.

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.

Anthony Leggett, bursar at St Joseph’s College Reading, said: “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.

“The team at Lloyds Bank Commercial Banking has been with us from the very beginning of our strategic plan and have been integral to our success. We’re now in a position where most of our year groups are running at maximum capacity and we have children traveling 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.

“We’re committed to helping Britain prosper, which is why we have a team of specialist relationship managers that can support businesses operating in the education sector.”