Time Finance Plc, the independent specialist finance provider, has reached a significant milestone in its asset finance business, with its hard asset lending portfolio surpassing £100 million for the first time.
On 31 January 2025, the portfolio hit an all-time high of £103 million, reflecting a 21% increase from the last financial year-end (31 May 2024: £85 million) and a 222% rise since the launch of the Group’s strategic growth plan in June 2021 (31 May 2021: £32 million).
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The continued month-on-month expansion of the hard asset lending portfolio over three and a half years highlights the Group’s focus on growing its own-book secured lending. This growth is central to Time Finance’s strategy of expanding its total lending book to over £300 million by 2028.
With an increasing emphasis on secured lending, the combined hard asset and invoice finance books now represent 80% of the Group’s total lending portfolio as of 31 January 2025 (31 May 2024: 75%; 31 May 2021: 50%). This shift underscores Time Finance’s long-term commitment to strengthening its secured lending base.
Time Finance Plc will publish its Q3 Trading Update on Tuesday, 25 March 2025, covering the nine months from 1 June 2024 to 28 February 2025. The update will offer further insights into the Group’s financial performance and progress towards its medium-term goals.
Ed Rimmer, Chief Executive Officer of Time Finance Plc, said: “Growing our lending book is a core pillar of our strategic plan, with Hard Asset and Invoice Finance leading the way. Breaking through the £100 million milestone in Hard Asset lending is a proud achievement that sets us on track to reach our target of £300 million by May 2028.”
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