Time Finance clocks up £100m milestone
Time Finance has achieved a major milestone after the group’s Hard Asset lending portfolio has reached an all-time record high, exceeding £100m for the first time.
The portfolio is the focus of the group’s Asset Finance business and it now has an unbroken three-and-a-half record of increasing in size month-on-month.
The AIM-listed independent specialist finance provider has set the target of growing its overall lending book to more than £300m in 2028.
Ed Rimmer, chief executive of Time Finance, said: “Growing our lending book is one of the core pillars of our strategic plan and Hard Asset, alongside Invoice Finance, are the two key areas expected to drive this growth.
“To break through the £100m milestone in Hard Asset is an achievement we are very proud of, and it sets us on a firm footing to achieve our medium-term aim of growing the combined group lending book to £300m by the end of May 2028.”
As at January 31, the unaudited value of the group’s Hard Asset lending portfolio reached £103m. This is a 21% increase since the financial year-end last May, and a 222% increase on its size at the launch of the company’s growth strategy in June 2021.
