The firm, which is a nationwide franchise specialising in economic vehicle rentals, has moved its banking relationship to Barclays Corporate and has utilised an asset credit facility to purchase a fleet of new Vauxhall, Peugeot and small commercial vehicles.

Practical Car and Van Rental, which has 160 franchise outlets across the UK and across to Northern and Southern Ireland, prides itself on offering services in smaller towns and rural communities and says that this enables it to provide the benefits of a national company with the dedicated service being offered by a local office.

Len Jones, finance director, said of the firm's decison to move its banking relationship to Barclays Corporate: 'The structure of the finance they have provided has enabled us to expand our existing fleet with the purchase of new vehicles. This will enable us to offer further franchise outlets, expanding Practical’s service offering.'