Finance firm supports more businesses with increased funding line

Manchester-based, Positive Cashflow Finance is increasing the amount of funding available to businesses in the North which are looking to access finance to support their business growth.

The independent invoice financier, which is part of the 1pm Group of companies, currently provides funding facilities ranging from £10,000 to £1m to SMEs looking to access additional working capital to fund acquisitions and accelerate business growth.

With a £42m facility now in place, the 1pm Group is confident it can bring valuable support to the region and businesses looking to push forward with their business plans.

Phil Chesham, head of business at Positive, said: “Following what has been a record year for the firm we are delighted to announce our increased funding facilities with NatWest.

“It’s testimony to the strength of the business and the belief our funders have in the team here and our future expectations for the business.

“SMEs are the backbone of our economy and we believe it is essential that they have access to the funding they need to ensure they have a flexible and ongoing supply of working capital to make their plans happen.

“Our focus is to ensure they are aware of the different types of funding available to them so that they secure the right funding solution for their business.”

As part of 1pm plc, the AIM-listed independent provider of finance facilities also provides access to a multi-product range of business finance solutions to the UK market, including asset finance, commercial loans and vehicle finance.

Ed Rimmer, chief operating officer at 1pm plc, said: “Over the 12 months since January 31, 2019, 1pm’s invoice finance division has achieved steady growth in client numbers and funds advanced to clients having seen an increase of nine per cent.

“We now have sizeable funding facilities in place across all our divisions, which allow us to provide a wide range of cash flow solutions to the UK SME market. With demand for flexible finance solutions increasing, paired with our commitment to ensuring this funding reaches those businesses who need it to capitalise on the opportunities that lie ahead, we are now in an even stronger position to take advantage of market conditions.”