Distribution Finance reaches loan repayment agreement with TruFin
Distribution Finance has mutually agreed with TruFin to fully repay, an outstanding loan on 4 January, it announced on Wednesday.
The AIM-traded firm said the repayment would be for the unsecured loan agreed between itself and TruFin on 29 May 2018, and amended on 11 April 2019 and 14 August 2020, when DF Capital was a subsidiary of TruFin.
It said the final loan repayment fell in line with the amendments agreed and announced on 14 August.
“Since receiving full regulatory authorisation as a bank in September, the group has launched a number of personal retail deposit products which have been well received by the market, providing a new attractively priced source of funding for the group,” the board said in its statement.