AIM-listed alternative finance specialist Time Finance supported 10,000 business owners with over £137m of funding throughout the year to 31st May 2022.
Businesses and their financial intermediaries accessed a broad portfolio of financial solutions, including asset finance, invoice finance, business loans and vehicle finance.
Demonstrating a strong and resilient performance for the year, Time Finance has reported a total revenue of £23.6m.
Throughout the year, the alternative finance provider invested in its people, bringing in well-known and highly experienced leaders to its senior management team, including Sharon Bryden as director of commercial loans & ABL, Steve Nichols as director of asset finance, Louise Ikonomides as head of business improvements and Helen Wheeler as head of invoice finance operations.
The continued expansion of its national business development team led to further growth in its own book lending, with deal origination at £64.4m, up 36% on the previous year. Furthermore, its combined lending book stood at £137m at the end of May – an increase of 18% on the previous year with growth continuing in the new financial year.
Ed Rimmer, chief executive officer at Time Finance, said: “We’re pleased to head into our new financial year with such positive momentum and our continued commitment to create confidence in the market and encourage economic growth.
“We have a clear objective to grow our lending book to £250m as part of a medium term plan, combined with maximising our multi-product offering and focusing on our core proposition of asset finance, invoice finance and business loans.
“It’s the drive, enthusiasm and passion within our teams that allows us to look forward with optimism, despite the many economic challenges currently facing our clients and customers.
