A Birmingham solicitors firm has expanded and relocated after securing a £400,000 loan.
Rubric Lois King, which has seen rapid growth of its commercial and litigation practice over the past two years, has moved from Rubery to larger newly refurbished offices on Calthorpe Road in Edgbaston.
The move will help facilitate the firm’s ambitions to expand its client base, particularly in its conveyancing and private client practice.
To buy the new office Rubric Lois King, which has an annual turnover of £2 million, approached Lloyds TSB Commercial for a £400,000 European Investment Bank (EIB) loan, available to UK SMEs with less than 250 employees.
The company employs 12 people, will recruit further in the new year and is switching all of its banking to Lloyds.
Satish Jakhu, head of litigation at Rubric Lois King Solicitors, said: “Our new premises in Edgbaston will provide us with an ideal location from which to better service our client base, which is predominantly located across the Midlands region.”
Darren Riley, relationship director for Lloyds TSB Commercial, said: “The business’ relocation is testament to the clear strategic objectives they have outlined in order to maximise future growth in the company and we were pleased to be able to provide the funding necessary to support this move.”
