Government cash to boost Private & Commercial Finance Group
AIM-listed Private & Commercial Finance Group (PCF) has secured a new £10 million debt facility from British Business Bank Investments Ltd, the commercial division of the UK Government's economic development bank.
Private & Commercial Finance Group is a provider of asset backed finance helping SMEs and consumers to purchase vehicles, plant and equipment. It’s new debt facility, which has an availability period of up to 36 months, takes PCF’s total facility headroom to £32.7 million. Scott Maybury, Chief Executive of PCFG was quoted: “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. Our proven business model ensures fast and efficient funding for businesses that require vehicle and asset finance, and I…