Time Finance extends NatWest funding facility to £65m

Time Finance plc, an AIM-listed independent specialist finance provider, has announced the renewal and expansion of its invoice finance funding facility with NatWest. The enhanced facility, now valued at £65 million, includes a fully committed £55 million with an additional £10 million available through an accordion feature.

This financial boost is expected to significantly support the company’s growth in its invoice finance division, Time Invoice Finance (TIF), catering to the expanding needs of UK small and medium-sized enterprises (SMEs).

The new facility will enable Time Finance to continue providing tailored financial solutions to its growing client base in the UK. Since launching its four-year strategic plan in June 2021, Time Invoice Finance has experienced substantial growth, with funds advanced to clients increasing by over 170% to £68 million by the end of August 2024.

This extended funding deal complements the recently renewed asset finance facilities, announced in April 2024, which were secured with other long-standing funding partners. With these agreements, Time Finance now boasts total available funding of over £225 million, further strengthening its ability to support UK businesses with flexible financing solutions.

“I am delighted that the Group has further strengthened its long-standing relationship with NatWest which continues to thrive not just in our Invoice Finance division but also across the wider Group. We have substantial funding facilities with ample headroom in place across all of our lending divisions. The provision of these larger and more flexible facilities will contribute significantly to our growth strategy and provide additional funding solutions for UK businesses – for whom a flexible and dependable funding partner can make all the difference.”