HSBC’s corporate and commercial team in the island has provided ’significant’ banking and financing facilities to support the growth of a leading locally-based telecoms business.

The multi-million pound loan facility provided by the bank will enable plan.com, a provider of business to business mobile, data, and voice services, to buy and undertake a refurbishment of new office premises in the Isle of Man.

The new office space at Celtic House, Victoria Street, Douglas, which coincidentally used to be HSBC’s head office in the island, will enable plan.com to bring all of its staff together under one roof to create a new headquarters for the business as it gears up for further expansion.

Since plan.com’s formation in 2014, it has grown to around 100 employees and in February last year was placed 14th in the Sunday Times Top 100 Best Small Companies to work for.

The company was also named the number one company in the Sunday Times Tech Track in recognition of its 364% growth in sales over three years.

Jaime Amoedo, head of corporate and commercial banking for HSBC in the Isle of Man, said: ’HSBC is always keen to support ambitious, innovative businesses and this facility will ultimately enable a trailblazing, nationally-recognised business to create a new cutting-edge office space and position it strongly for future growth.

’Plan.com is an example of a business that has international aspirations and contributes to the island’s economic diversity, and this is absolutely in tune with our drive to support economic activity in the Isle of Man.

’The fact that these premises used to be HSBC’s head office in the island before we moved to our current home at HSBC House, makes this a particularly pertinent deal to have worked on.’

Nick Verardi, director of Bramden Investments, which invests in plan.com, said: ’We are delighted to be building our new headquarters within the building formerly known as Celtic House in Douglas. The property will be home to a number of companies that Bramden has invested in, including plan.com.

’Our people at plan.com will be able to benefit from a stylish, state-of-the-art building that will provide a diverse, interactive working environment.

’Our broader hope is that this modern building will help to reinvigorate the island’s capital along the lines envisaged by the Central Douglas Masterplan.’