Secure Trust Bank has provided a £1.75m (€2m) funding line to Independent Inspections Group, a provider of assessment and restoration services for the insurance industry.
The Preston-based group was founded in 1989, and consists of three brands, has 300 staff, and generates turnover of £45m.
The funding follows investment from growth investor RCapital in April of this year which provided working capital facilities.
Independent Inspections hope the funding will help refinance its existing funding facilities, and free up cashflow to enable growth over the next few months.
Matthew White, regional sales director, Secure Trust Bank Commercial Finance said: “By working alongside both the existing management team and the investors at RCapital, we quickly understood the ambitious targets that the business had, and were able to a structure a package capable of meeting their requirements.
“We are confident that with the ongoing support of both RCapital and ourselves, Independent Inspections is in excellent shape to further expand operations in the coming months.”
Chris Campbell, investment director, RCapital, said: “The team at Secure Trust Bank Commercial Finance took the timeframe in their stride, providing us with a tailored and comprehensive package that facilitates the needs of the business.
“There is enormous potential for growth at Independent Inspections, and we’re confident that with our ongoing support, we can achieve this over the coming months.”
