Bluestones Investment Group, a leading investment business that focuses predominantly on the human capital and recruitment sectors, has secured a new funding facility with The Royal Bank of Scotland (RBS). Under the terms of the facility, RBS will provide access to a £15m funding facility through invoice discounting.Commenting about the deal CEO, Steven Pendergast said,
Securing a tier 1 funding provider has been a strategic goal for Bluestones; so, this deal is a big achievement for us, particularly as it’s underlined by our sustained growth trajectory and strong commercial performance. It also demonstrates our business maturity, as the rules and covenants are stricter with a tier 1 lender, with much more rigorous checks and controls.The new funding facility introduces substantial savings to the business, and as Rob O’Connor the Group’s Finance Director explains, “In simple terms, through this new RBS funding facility, the cost of lending is less than previously incurred“. Bluestones Investment Group operates a diversified brand portfolio, with 18 distinct businesses operating across 17 locations throughout the UK, all structured around six core divisions. For more information about Bluestones Group, please explore this website.