Brookson, which has experienced rapid growth and strong demand for its services since it was established in 1995, will use the funding to continue its investment in its technology platform, develop the service experience for existing and new customers even further and increase its growth into new markets. The firm recently launched a new online platform and there is potential for significant job creation as momentum builds around Brookson’s growing suite of innovative services.
A customer of Royal Bank of Scotland since 1999, Brookson not only provides unique, technology-enabled accountancy and tax services to its target base but also other key professional benefits such as financial services and advice, and legal and insurance services.
The £3.1m facility from RBS involves refinancing of existing debt and financial support for new initiatives. The Funding for Lending Scheme, launched by the Bank of England and HM Treasury in July this year, allows banks and building societies to borrow from the Bank of England for up to four years. Participants have strong incentives to boost lending by lowering interest rates and increasing the availability of business loans and mortgages.
"Brookson has continued to invest and grow over the past 17 years by offering straightforward, in-demand and innovative services for our customers. These services are designed to keep self employed professionals safe, reduce their hassle and enable them to make the most of the money they earn. We have been very ably assisted in this endeavour by Royal Bank of Scotland. I am delighted the bank has once again supported us at a significant point in our development – it is a tangible demonstration of RBS’s confidence in Brookson’s financial performance and the growth opportunity that lies ahead of us."
Martin Hesketh, managing director of Brookson Group Ltd
"Brookson has carved out a fantastic brand in its market and the firm is clearly going from strength to strength – as illustrated by new product development and plans to hire staff to underpin its sales and marketing ambitions. RBS is delighted to continue its support for the firm and will assist Brookson in this next phase of its success."
Craig Cheetham, relationship director at RBS Corporate