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Arrows Group Joins RBS EFG Scheme

Arrows Group Joins RBS EFG Scheme
Arrows Group Ltd, the Richmond-based technology, finance and healthcare recruitment specialist, has taken another step in its ongoing expansion, joining The Royal Bank of Scotlands (RBS) Enterprise Finance Guarantee (EFG) scheme.
Founded in 2003 by Managing Director James Parsons, Arrows Group began as a team of just two, providing expert recruitment services to the Technology market. Early success led the business to expand into the Healthcare market in 2005 and today Arrows Group boasts a team of more than fifty, of whom eight are based at the companys newly formed European offices in Amsterdam.
Forecasting significant growth and an annual turnover of 8m, Arrows Group needed to be sure that they were working with a banking partner that fully understood their business aspirations. After initially discussing Arrows Group requirements at this years Recruitment Conference, James Parsons worked with RBS Relationship Manager, Aaron Boland, to develop a banking strategy to support and enhance the growth already achieved by the business. As part of this strategy, Aaron assisted Arrows Group with an EFG loan to increase resources in this area.
The EFG scheme is designed to provide working capital to turn sound business propositions into realities despite the current economic climate. Arrows Group sought EFG funding to accelerate expansion of its specialist Healthcare practice, which has already experienced 100% growth over the past two years. Providing nursing care staff to the NHS and private sector, predominantly midwives and paediatric nurses, Arrows Group Healthcare practice will now grow by an additional six employees, allowing the business to maximise its provision to existing clients and continue to engage further healthcare providers seeking expert staffing solutions.
To date RBS have led the field in taking applications for the Enterprise Finance Guarantee scheme, with over 264 million worth of loans already agreed or in the pipeline. Recent BIS figures also confirm that of all EFG lending across the industry, NatWest and RBS have provided nearly half of all loans drawn down.
James Parsons, Managing Director for Arrows Group Ltd commented:
I am grateful to Aaron and the RBS team who have taken time to understand the current and ongoing requirements of Arrows Group and worked closely with us to support our growth in a key sector with an EFG funding facility. It is refreshing to work in partnership with a bank who offers the expert support and sector knowledge to help Arrows Group achieve its expansion goals. I look forward to seeing the benefits of the additional resource and continuing to build on our UK and European operations.
Aaron Boland, Relationship Director at RBS added:
Working closely with James, it was clear that Arrows Group was a business with ambitious and clearly defined plans in a sector that is experiencing impressive growth. These plans merited the provision of capital and were ideally suited to the EFG Scheme. I wish Arrows Group the greatest success with the opportunities the EFG funding will bring.


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