Prime Financial Group's latest financing facility announcement

Prime Financial Group Ltd (ASX:$PFG) has announced a new $5 million financing facility with Westpac Banking Corporation. This facility is intended to support the growth of existing service lines, lateral hires, and initial working capital requirements, aligning with Prime's ambitions to double revenue from $26 million in FY22 to $50 million in FY25, and then double revenue again to $100 million within 3-5 years of FY25. With this addition, Prime now has a total limit of approximately $24.4 million in combined facilities with Westpac.

Executive commentary on the financing facility

Prime Financial Group is excited to secure this additional financing facility with Westpac. This funding will enable us to further invest in our service lines, expand our team, and meet the working capital needs as we pursue our ambitious growth targets. We are committed to delivering value to our clients and shareholders as we continue to strengthen our position in the market.

Summary of Prime Financial Group's financing announcement

Prime Financial Group (ASX:PFG) has announced a new $5 million financing facility with Westpac Banking Corporation to support its growth initiatives. The company aims to double its revenue from $26 million in FY22 to $50 million in FY25, and then double revenue again to $100 million within 3-5 years of FY25. With a total limit of approximately $24.4 million in combined facilities with Westpac, Prime is focused on accelerating its growth and enhancing its capabilities to serve its expanding client base. The additional funding reflects Prime's commitment to achieving its ambitious revenue targets and strengthening its market position.