Secure Trust Bank Commercial Finance has provided a £250,000 invoice finance facility to recruitment and executive search company Circle Square.
The recruitment firm, which primarily focuses on clients within the mid-market space, achieved a turnover of £2.5m this year to date.
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As a result of the additional working capital facilities, Circle Square aims to reach turnover of £3m by the end of 2015, up from £1.7m in 2014.
Andy Pringle, managing director at Circle Square, said: "Our previous lender restricted our growth and was far too risk averse. However, since working with Secure Trust Bank, Circle Square has enjoyed much more freedom and flexibility to expand.
"While M&A markets remain buoyant, it means the demand for skilled corporate finance and private equity practitioners remains high. We’re now in a much better position to accelerate our recruitment drive across these core sectors and capitalise on growth."
Last month, STB has provided a £250,000 facility to another recruitment firm, Red Dot Recruitment.
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