Island-based Manx Financial Group has bought asset-based lender ECF Asset Finance for £1.
MFG subsidiary Conister Bank has bought ECF’s loan book for £12.2 million – the book has £14.3 million outstanding on it.
ECF also has approximately £1.1 million in cash which will be available to Manx Financial Group.
Manchester-based ECF deals in finance leases and commercial loans to small businesses in the UK, and employs 16 staff.
Energy and food security "two most important things", says MHK
Douglas North's John Wannenburgh believes these are the two main components that will determine the Island's survival
Gatwick drop-off fee rises again
Heads up for Manx air passengers travelling to London
Isle of Man inflation holds steady at 2.8 percent in November
Food, hospitality and education costs continue to rise, while falls in energy prices help offset pressures
New Costa Coffee store opens on Peel Promenade
Based in the former Harbour Lights premises on Shore Road
