Business
Additional ?4 million Block Discounting Facilities
Additional ?4 million Block Discounting Facilities.
About this update from Time Finance Plc
[{"type":"text","content":"\n \nRNS Number : 7742I 1PM PLC 04 June 2014 \n \n\n \n \n \n \n4 June 2014\n1PM PLC\n(AIM: OPM)\n \nAdditional Block Discounting Facilities totalling £4m\n \n1pm plc (\"1pm\" or \"the Company\"), the AIM listed specialist independent provider of finance facilities to the SME sector, is pleased to announce that it has negotiated additional Block Discounting Facilities totalling £4,000,000 comprising a new £3,000,000 facility and an increase of £1,000,000 to an existing facility. This additional funding will be used exclusively for the purpose of writing new business. \n \nThe loan terms are consistent with those of other funders to the Company. \n \nMaria Hampton, CEO, commented:\n \n\"This additional funding will help us to meet the continuing demand for finance from the SME sector and underpins our plans for growth. The total amount of new funding raised since 31st May 2013 now stands at £11.3m.\"\n \n \nIan Smith, Chairman, commented:\n \n\"We are delighted to be announcing significant new and increased funding facilities soon after a similar announcement in April this year. This is evidence of continuing high demand, a strong trading performance and the growing reputation of the Company within the market place for underwriting high quality business.\"\n \n\n\n\n\n \nFor further information, please contact:\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n1pm plc\n\n\n\n\n\n\n\nIa...