Time Finance specialises in the provision of funding solutions to UK businesses seeking to access the finance they need to realise their growth plans. By working with Time Finance, UK businesses can take advantage of the company’s multi-product offering, from Asset Finance to Invoice Finance, Business Loans and Asset Based Lending.

Time Finance has grown rapidly: at the end of September 2024, the firm – which operates from Bath, Reading, Manchester, and Warrington - had provided over £200 million of funding to UK businesses to support their growth plans. Overall, Time Finance has empowered over 10,000 UK small and mid-sized companies to achieve their business goals.

To cater for increased demand from SMEs for Invoice Finance and Asset Based Lending Facilities, Time Finance approached their longstanding relationship bank, NatWest, to discuss renewing and expanding its Back-to-Back Invoice Finance funding.

Based on Time Finance’s growth strategy, the NatWest deal team agreed to increase the existing debt facility to £65 million, which includes £55 million of fully committed funds with an additional £10 million accordion.

This new financing package will support further growth of Time Finance’s Invoice Finance division, which has seen funds advanced to clients more than treble over the last three years. The facility will be ring-fenced for the exclusive use of UK-based businesses, with Time Finance providing Invoice Finance facilities up to £3.5 million in size.

Phil Chesham, Managing Director of Invoice Finance at Time Finance, commented: “We’re delighted to be renewing and expanding our Invoice Finance facility with NatWest. We’ve built a strong and longstanding relationship with them, and this is demonstrated by the confidence they have shown in us with this extended facility. We’re seeing increased demand from our SME clients, in terms of both new and larger deals and existing facilities, and we want to reach even more SMEs with the assistance of our valued broker network. This new funding package provides us with a vital stream of finance to reach more businesses in need of investment, supporting both their cashflow and growth plans with our flexible solutions, whilst ensuring we remain one of the leading independent providers of SME funding in the UK.”

Paul Morgan, Director of Corporate Banking & Structured Finance at NatWest, said: “We’ve supported Time Finance’s Invoice Finance business and its funding for SMEs in the UK for 11 years now, and we’re delighted that we’re able to continue our support through the latest phase of their growth via this facility increase and extension. This deal aligns closely with our purpose to champion potential and to proactively support UK enterprises and help them to grow.”