Time Finance, an alternative lender based in Reading, UK, has reported a record lending book of £152.7 million as it continues to grow its revenue and profits.
During the first half of its financial year, which ended in November 2022, the company’s revenue increased by 12% to £13.2 million and its profit before tax rose by 67% to £2 million.
Time Finance offers various financial services to UK business owners, such as Asset Finance, Invoice Finance, Business Loans and Vehicle Finance, and recently added an Asset Based Lending option. The company works with financial intermediaries to provide these solutions and currently serves around 10,000 business owners in the UK.
Time Finance plc (LON:TIME) is an AIM-listed business specialising in the provision or arrangement of funding solutions to UK businesses seeking to access the finance they need to realise their growth plans. Time Finance can fund businesses or arrange funding with their trusted partners through Asset Finance, Invoice Finance, Business Loans, Vehicle Finance or Asset Based Lending.