Distribution Finance Capital Holdings plc (LON:DFCH), a newly authorised bank providing working capital solutions to dealers and manufacturers across the UK, has announced that further to the announcements of 14 August 2020 and 21 October 2020, the Company has repaid its outstanding loan to TruFin plc.
The early repayment of the loan to TruFin, which totals approximately £9.5 million including associated interest and costs, falls in line with the amendments agreed and announced on 14 August 2020.
Since launching its first retail savings products on 14 October 2020, the Company has raised over £140 million of deposits. These deposits have allowed the early repayment of the outstanding loan to TruFin, including as also announced on 5 November 2020, the repayment of all of the Group’s wholesale finance facilities, and the Group’s loan book is now entirely supported by retail deposits.
