Moreover, the firm outlined that it has continued to expand its operations in both Northern Ireland and the Republic of Ireland as a result of strong demand.

Furthermore, the CBILS loan allowed the borrower to lower their financing costs due to a lower interest rate and the UK government covering all interest during the first 12 months, according to Fiduciam.

The firm now has a loan pipeline near to £20m for CBILS loans from Northern Irish businesses.

As a result, Fiduciam intends to open a Belfast office as soon as the government health guidance permits it.

Kenneth Duffy, country manager for Ireland at Fiduciam, said: “Throughout all the economic uncertainty, Fiduciam has remained fully committed to the Northern Irish market and our loan to the Drenagh wedding and conference centre is additional proof of that.

“Our investment in Northern Ireland continued throughout the COVID-19 crisis; we have expanded our team and we are opening a Belfast office as soon as the second COVID-19 wave is behind us.

“Our commitment has paid off thus far, our market share continued to increase this year as we helped more Irish businesses to achieve their dreams and objectives.”