Business
Further funding underpins growth
Further funding underpins growth.
About this update from Time Finance Plc
[{"type":"text","content":"\n (\"1pm\" or the \"Company\")\n\n Extra GBP 400,000 lending facility secured to underpin further growth\n\nDate: 18 June 2008\n\nThe board of 1pm, a provider of asset finance facilities to the small business\ncommunity, is pleased to announce that it has secured a further £400,000 from\none of its existing lenders.\n\nIn the past three months, total banking facilities available to 1pm have\nincreased by £1,650,000 now providing the business with total funding facilities\nof over £3.5m\n\nThis is another significant success for the Company, following on from the\nrecently announced £500,000 of additional funding and enables the business to\nincrease its market share, build its client base and accelerate growth.\n\nMike Johnson, Chairman stated:\n\n\"I am delighted with this additional funding which now provides the Company with\nover £3.5m of funds compared to just £700,000 a year ago. Our business\ncontinues to perform exceptionally well post restructuring and the timely focus\non the small ticket leasing sector and I look forward to updating shareholders\nwith further progress in due course.\"\n\nEnquiries\n\nMike Johnson, Chairman 1pm plc 08707 397 397\n\nIan Callaway, SVS Securities plc 020 7638 5600\n\nNick Harriss, Blomfield Corporate Finance 020 7489 4500\n\nShane Dolan, Biddicks 020 7448 1000\n\n-END- \n ","length":1494,"tagName":"div"}]