RBS backs finance firm’s expansion

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Leading loan and mortgage provider Norton Finance is targeting growth with the help of a £30 million financial package.

Royal Bank of Scotland’s corporate and institutional banking division is providing funds for Rotherham-based Norton, which started out in 1973 as a loan and car insurance broker.

The family-owned, 250 employee business now has three main business divisions: broking, first and second mortgage lending, and debt management services.

The Royal Bank of Scotland deal refinances Norton’s existing debt in addition to providing funds for expansion.

Norton Finance’s loans and mortgages director, Paul Stringer, praised RBS for its support and understanding of the Mansfield Road-based business.

“RBS has approached our requirements in a very commercially minded way, not only allowing us to produce competitive products from the start but also reassuring us of their commitment to ensure we remain competitive within the loans market in the future,” said Mr Stringer.