Time Finance extends funding facility to support growth plans

Independent specialist finance provider Time Finance has increased its back-to-back invoice finance funding facility with NatWest to £65m.

The AIM-listed group now has total funding of £225m available to support its lending and growth plans.

Time Finance’s chief financial officer James Roberts said: “We have substantial funding facilities with ample headroom in place across all of our lending divisions. The provision of these larger and more flexible facilities will contribute significantly to our growth strategy and provide additional funding solutions for UK businesses.”

The latest extension is for £55m fully committed and an additional £10m accordion facility.

The accordion funding will be applied exclusively to lending to UK businesses and provides the Group’s invoice finance business, Time Invoice Finance.