The company has signed a five-year lease for the new 4,593ft² office space. Credit: Time Finance.

Time Finance, which offers funding solutions to businesses, has opened new office premises at The Square at Birchwood Boulevard, UK.

This move forms part of the company’s efforts to focus on expanding its asset finance services for SMEs across the country.

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The company has signed a five-year lease for the new 4,593ft² office space. Its 40-member northern Asset Finance team will now move to the new office from their previous location in Warrington.

Time Finance CEO Ed Rimmer said: “We are on a really exciting growth path as we reach more businesses, particularly SMEs, with our creative and flexible finance solutions.

“Being able to serve our growing portfolio of deals is reliant on investing in our teams across the UK, giving them strategically located offices from which they can provide an exceptional service for our network of broker partners.”

Through its new offices, Time Finance plans to enhance its Asset Finance services, assisting businesses in sectors such as manufacturing, engineering, construction, recycling, transport, logistics, as well as bus and coach, alongside the traditional soft asset sectors.

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The office will also support the growth of Time Finance’s asset-based lending (ABL) service, which allows businesses to secure funding by using their existing assets as collateral.

Time Finance asset finance managing director Steve Nichols said: “Our relocation to Birchwood represents growth for our asset finance team as we seek to reach more UK SMEs while also improving our connectivity and giving our team a reinvigorated space to deliver our services.

“Asset Finance is a valuable tool for businesses looking to access the equipment they need to grow, but when used alongside Time Finance’s other services as part of a multi-product solution, it allows businesses to access capital tied up in their existing equipment.”

For the six months ending November 2023, Time Finance announced a lending book of £188.6m, marking a 23% growth on the previous 12 months.