Time Finance has stepped in to power the expansion of Midlands-based engineering firm SpeedFlex, delivering a bespoke £650k Asset-Based Lending package designed to accelerate its ambitious growth plans.
This dynamic financial solution combined a £250k Confidential Invoice Finance Facility with a £400k Asset Finance Facility, giving SpeedFlex the ability to invest in its operations while securing the working capital needed for future expansion. With expertise in manufacturing precision components for the aerospace, automotive, and gas turbine industries, SpeedFlex plays a crucial role in the UK’s engineering landscape.
Having grown its turnover from £500k to £1.6m, the company required additional funding to sustain its upward trajectory. Managing Director Stephen saw an opportunity to leverage the firm’s existing assets and turned to The Director’s Choice for guidance. Their recommendation led him to Time Finance, renowned for its flexible and consultative multi-product lending approach.
Time Finance structured a strategic funding package tailored to SpeedFlex’s immediate and long-term needs, ensuring smooth operations and a strong financial footing. Sam Evans, Regional Sales Manager at Time Finance, shared his enthusiasm: “We were delighted to assist SpeedFlex Engineering. Collaborating with Rob Walters from our Invoice Finance division, we turned financial constraints into a springboard for growth. Our priority was delivering a swift and effective solution, especially before the Christmas period, ensuring their cashflow remained stable as trading slowed.”
Reflecting on the experience, SpeedFlex Managing Director Stephen highlighted the personalised approach taken by Time Finance. “The team at Time Finance operates differently from other lenders. Their human approach made all the difference. Rob and Sam were fantastic to work with—open, honest, and always available to discuss my business needs and future plans. They delivered both the Invoice Finance and Asset Finance facilities within three weeks, making the process seamless and stress-free.”
With this financial backing, SpeedFlex has now set its long-term growth strategy in motion, strengthening its position in the engineering sector while maintaining the financial flexibility needed to thrive in a competitive market.
SpeedFlex Engineering continues to be a key player in the UK’s manufacturing industry, providing high-quality components to essential sectors. With the right financial support in place, the company is now poised for its next phase of success.
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.
