Credit company S&U has agreed a new £30 million debt facility.
The Solihull-based business, which provides niche home credit and motor finance, told the stock exchange today it had secured a seven-year facility with M&G Investments.
The debt will be drawn down in two tranches of £15 million now and £15 million in six months' time.
Chairman Anthony Coombs said: "We are delighted to have secured new funds from M&G Investments on attractive terms to grow our loan book.
"As usual, we will be updating the market in our IMS on May 20."
S&U was founded in 1938 and floated on the stock exchange in 1961. It provides finance under two main brands, Loansathome4U for home credit and Advantage Finance for motorists.
