H&T Group PLC (AIM:HAT) said it has secured an additional £10 million funding facility from Allica Bank to support the growth of its pledge book and invest in its pawnbroking and jewellery retail stores.
Chief financial officer Diane Giddy said: "We have continued to see good growth in the pledge book in the second half of the financial year, with sustained demand for our products and services, and the investment we are making in our store estate is expected to underpin future growth.
"The new facility, alongside our existing long-standing support from Lloyds, will enable us to grow our pledge book further in FY24."
The facility is made up of a term loan that matures in line with the existing Lloyds facilities, which were increased in July, with the option to extend the maturity of both together.
Interest will be charged at a rate of 4% above the Bank of England base rate, with similar covenants to its existing facilities but with a new covenant requiring pledge book plus inventory assets to cover net debt by at least three times.