Business
Increase in Block Discounting Facilities
Increase in Block Discounting Facilities.
About this update from Time Finance Plc
[{"type":"text","content":"\n \nRNS Number : 6148E 1PM PLC 11 April 2011 \n \n\n1PM PLC\n(AIM: OPM)\n \nIncrease in Block Discounting Facilities\n \n1pm plc (\"1pm\" or \"the Company\"), the specialist provider of lease asset finance to the SME sector, is pleased to announce that it has agreed a total increase of £500,000 with two of its existing block discounting providers (\"the BD Increase\"). The BD Increase will be exclusively used for the purpose of writing new lease agreements.\n \nFurther to the half yearly results released in December 2010, the Company confirms that the lease portfolio has continued to grow above management's expectation. Block discount funding is an important source of funding to the Company and the BD Increase will provide additional capital to support further growth of the lease portfolio\n \n\n\n\n\nContacts:\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n1pm plc\n\n\nwww.1pm.co.uk\n\n\n\n\nMike Johnson, Chairman\n\n\n+44 (0) 844 967 0944\n\n\n\n\nMaria Hampton, Managing Director\n\n\n+44 (0) 844 967 0944\n\n\n\n\n\n\n\n\n\n\n\n\nWH Ireland Limited\n\n\nwww.wh-ireland.co.uk\n\n\n\n\nMike Coe / Marc Davies\n\n\n+44 (0) 117 945 3470\n\n\n\n\n \nAbout 1pm:\n \n1pm plc is an established small ticket leasing company focused on providing SMEs with an accessible funding pool. Customers must have clear credit histories and an ability to pay their commitments. Assets leased are business critical. 1pm typically lends between £1,000 - £30,000 for between 12 and 60 months.\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCMMGGDKRRGMZM \n ","length":4351,"tagName":"div"}]