The new facility will extend the firm’s lending capabilities by millions of pounds and will allow it to expand its business, including new hires and bigger premises, it said.
CEO Paul Mumford said: “This new line completes Century’s journey to becoming a leading short-term lender. We are very optimistic about 2017 and already have a substantial deal pipeline”.
Munford set up Century five years ago after selling his 50% stake in Omni Capital – a short-term lender he founded with then sales director John Wheeler in 2010 – to CPC group in 2011.
This week the pair teamed up again with Wheeler joining Century Capital as head of business development.