Time Finance increases funding facility
Alternative finance provider Time Finance has renewed its back-to-back facility with RBSIF with a new 3-year deal. The £50m facility, which will be used exclusively to provide an increase in Invoice Finance facilities to business owners throughout the UK, is the important next stage in the firm’s ambitious growth plans.
The deal comes on the back of what has been a challenging eighteen months for business. Time Finance has, more recently, seen an increase in the level of funding requests as firms put all their efforts into building back to pre-Covid levels.
Paul Morgan, Director, RBS Invoice Finance, commented:
“As the economy continues to recover from the pandemic, having access to funding and liquidity to drive growth has never been more important and the renewal of the back-to-back facility ensures Time Finance continue to have access to the funding required to continue supporting their existing and new customers to achieve their goals”.
Time Finance also specialise in the provision or arrangement of Asset Finance, Loan and Vehicle Finance solutions. Since the beginning of the pandemic, Time Finance has been working hard to help its customers through this turbulent period and the addition of both CBILS and more recently the RLS provided firms with the flexibility of funding options they needed to have the confidence to plan forward.
