Bath-based alternative finance provider Time Finance has renewed its block discounting facility from Cynergy Business Finance (CBF), increasing it to £15m.
The additional capital will help the business expand its growing lending book, which currently sits at a value of more than £185m.
CFO James Roberts said: “Time Finance is committed to delivering robust funding solutions that inspire confidence and growth for SMEs.
“In order for us to scale up our lending book, we needed a trusted and flexible funding partner to help support our strategic growth plans.”
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.