Private and Commercial Finance Group
British Business Bank programme:
Private & Commercial Finance Group plc is a long established AIM quoted finance house that has two operating divisions. The consumer finance division provides finance for motor vehicles to consumers and the business finance division provides vehicles, plant and equipment to SME’s. The Group employs 45 staff located in central London and uses a highly efficient and scalable business model to service a national network of finance brokers and suppliers. An internet-based proposal system called e-Quote, is paramount in providing outstanding customer service and delivering the finance solution that best fits the customers’ needs.
The Group approached the British Business Bank as it required additional debt finance in order to extend its reach and increase its support to the UK’s large number of sole traders, partnerships and small companies. Along with its existing bank funders, the finance provided by the British Business Bank provided the Group with the financial resources to increase lending to small business. Often these small businesses or the business critical assets they want to buy are not on the radar of the larger banks who are focused on building scale.
The additional £10 million of finance provided by the British Business Bank exactly fitted their own objective of supporting this vital sector and by utilising the operating platform of Private & Commercial Finance Group, the process has worked extremely well. We are very proud of our partner status with the British Business Bank.
Scott Maybury, Chief Executive of PCFG said:
“We are delighted to have been awarded this significant facility. The support of the British Business Bank 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.”