Accountancy firm Stewart & Co, has secured a £300,000 loan from the Enterprise M3 (EM3) funding escalator for the acquisition of another accountancy practice.
The funding escalator is managed by Productivity Finance's parent company, The FSE Group, and can provide loans and equity funding between £50,000 and £500,000 for activities that will deliver high-growth and employment opportunities.
The loan to Stewart & Co will be used for new hires and the working capital needed to service the expanded client base.
FSE’s investment manager, Simon Blackbourn, said:
“As a financial services provider, Stewart & Co doesn’t fit our usual customer profile, but we could see there was an opportunity for business growth that would benefit the EM3 region.”
The EM3 region runs along the M3 corridor in Surrey and Hampshire and includes towns such as Guildford, Woking, Farnborough and Basingstoke.
If you would like to know more about how to finance high-growth businesses in this and other parts of the UK, please get in touch.
By: Neil Edwards
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