Principal Insurance secures funding from Yorkshire Bank
Loan will be used to meet expansion targets.
Principal Insurance has secured a £250,000 loan from Yorkshire Bank in a move the broker stated would support its growth plans.
The Manchester-based firm detailed that it will use the capital to help boost its marketing activity, invest in new technology and recruit additional staff.
The firm was founded in 2011 and has grown to generate over £3m in annual premium income across the motorcycle, scooter, van, trade and classic and modified car insurance markets.
The deal with Yorkshire Bank is the
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