European Wealth Group Limited (LON:EWG), the integrated wealth management group, has entered in to a £720,000 12-month loan facility.
The facility carries an interest rate of 10% over the term of the loan.
The full amount of the loan can be paid back at any time during the term at the discretion of the company without incurring any early repayment charges.
The loan will be used to provide adequate working capital for the company in the near term and will ensure that the company can meet its obligations as they fall due.
As announced in the trading update on 10 February, the company has some loan note obligations that fall due in June this year.