LONDON (Alliance News) - Private & Commercial Finance Group PLC on Wednesday said it has secured a GBP10 million three-year term facility from British Business Bank Investments Ltd, the commercial arm of the UK government's economic development bank.
The SME asset finance provider will use the proceeds from the facility to back the expansion of its finance lease portfolio of business critical assets.
"We are delighted to have been awarded this significant facility. The support of British Business Bank Investments will be key to expanding our lending into the vital SME sector," said Private & Commercial Finance Chief Executive Scott Maybury.
Shares in the company were down 1.9% to 13.00 pence on Wednesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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