Business
New line of Credit from Pension Fund
New line of Credit from Pension Fund.
About this update from Time Finance Plc
[{"type":"text","content":"\n \nRNS Number : 1291H 1PM PLC 24 May 2011 \n \n\n1PM PLC\n(AIM: OPM)\n \nNew line of Credit from Pension Fund\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 new funding line of £200,000 through a Self Invested Personal Pension (SIPP) (\"the Loan\"). The Loan will be exclusively used for the purpose of writing new lease agreements. \n \nThe Loan has been agreed on commercial terms similar to those agreed with the Company's block discounters. \n \nMaria Hampton, 1pm Managing Director, commented \n\"We are always looking at innovative ways to obtain alternative funding lines and are delighted to have agreed the Loan. A number of SIPP providers have approached us on behalf of their clients as we provide a better rate than the banks. \n \nWith bank lines remaining difficult to secure SMEs are more reliant on lease asset financing from companies like 1pm and the Loan will provide further capital for 1pm to write good quality business.\"\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 NRASEIFMDFFSEFI \n ","length":4578,"tagName":"div"}]