In the flurry of crowdfunding and other ‘new’ funding routes, it’s rather good to hear from the Edinburgh-based letting agent and residential investment firm, Grant Property, which has secured a £450,000 loan from HSBC to invest in sophisticated IT systems designed to grow the business.
The new software will improve data analysis and enable Grant Property to target new investment clients. It will also create efficiencies allowing the business to invest in staff and grow its account management team.
With the combination of new skilled staff and refreshed IT systems, Grant Property expects to see turnover rise as the business grows its investment management arm in the Edinburgh market. This follows the 20 per cent growth in turnover seen by the company in the last year.
John Moran, Managing Director at Grant Property, said, “We’ve seen a lot of interest from overseas buyers wanting to invest in Edinburgh’s residential property market. To help us grow in this area, we needed the right infrastructure in place. HSBC completely understood our strategy and have enabled us to streamline our business and invest in more staff.”
Grant Property switched its full banking requirements to HSBC where the finance was allocated from the bank’s national £10 billion SME fund to actively support UK SMEs. £450 million is specifically designated to support Scottish firms and rebalance the economy outside of London.
Donald Rankine, Relationship Manger at HSBC, said, “Grant Property demonstrated a clear strategy for growth by making the business leaner and capitalising on a buoyant market. We were pleased to support the team’s evolving business needs and help the Grant Property realise a key step in its growth strategy.”