Business
New Funding Line
New Funding Line.
About this update from Time Finance Plc
[{"type":"text","content":"\n \nRNS Number : 0047L 1PM PLC 06 August 2013 \n \n\n \n 6 August 2013\n \n \n \n \n \n1PM PLC\n(AIM: OPM)\n \nNew £1.5million Block Discounting Facility\n \n \n1pm plc (\"1pm\" or \"the Company\"), the AIM listed specialist independent provider of lease asset finance to the SME sector, is pleased to announce that it has negotiated a new Block Discounting Facility totalling £1.5million. 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 Group. \n \nThe Group also announces that it has received a further £270,000 from its quarterly loan programme with Lesmoir-Gordon, Boyle & Co. Limited, set up in March 2013. This is the second quarterly tranche, making aggregate loans to date of £0.59million. \n \nMaria Hampton, CEO of 1pm, commented:\n \n\"The new block discounting facility will give the Group additional capacity to further its growth and to satisfy the continuing demand for finance from the SME sector. It also demonstrates the growing reputation the Group enjoys within the marketplace as an independent, flexible provider of lease asset finance.\" \n \n \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\nMike Johnson, Chairman\n\n\n0844 967 0944\n\n\n\n\nMaria Hampton, CEO\n\n\n0844 967 0944\n\n\n\n\n\n\n\n\n\n\n\n\nWH Ireland (NOMAD) \n\n\n\n\n\n\n\nMike Coe\n\n\n0117 945 3470\n\n\n\n\n\n\n\n\n\n\n\n\nWinningtons Financial PR\n\n\n0117 985 8989\n\n\n\n\nPaul Vann\n\n\n07768 807631\n\n\n\n\n\n\n\npaul.vann...