1pm plc, an independent specialist finance provider for UK SMEs, has changed its name to Time Finance plc, which means all companies within the Aim-listed 1pm Group will be renamed under the Time Finance brand.
The rebrand comes on the back of an acquisition strategy launched in 2015 that has seen the company grow its portfolio to number seven lending and broking businesses.
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In a statement, the company said the name change supports the company’s goal of becoming a recognised force within the alternative finance market.
The move brings together – Onepm Finance, Academy Leasing, Bradgate Business Finance, Intelligent Loans, Positive Cashflow Finance and Gener8 Finance – under one brand.
Ian Smith (pictured above), chief executive of Time Finance, said: “Time Finance has seen a period of sustained growth resulting in £150m of funding being provided or arranged annually for more than 20,000 businesses across the UK.
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By GlobalData“Rebranding the business to consolidate and strengthen our offering is the next step for us. Time Finance reflects who we are as a business today, as well as our ambition to become a recognised force for UK businesses seeking a fast and flexible choice of finance to support their growth.”
The focus of the company will remain unchanged: “ensuring that UK businesses and their owners can access a multi-product range of funding solutions from asset finance, invoice finance, loans and vehicle finance to support their growth plans,” the company said.
At a time when businesses are being tested to the limit with the Covid-19 crisis and Brexit imminent, the ability to maintain a healthy cashflow, safeguard jobs, and continue with projected growth plans, is being felt more acutely than ever.
Smith said: “Businesses need to feel confident about their financing in a market where accessing finance isn’t as easy as it could be.
“As a finance provider, we are committed to solving their needs through our range of financial solutions by offering the right solution at the right price, whatever the size of business.
“This is positive news for our clients and our introducers as we work together to deliver a more comprehensive solution to the needs of UK business”.
The 1pm brand was derived from the idea of ‘one payment monthly’ while the new name “takes its inspiration from the notion that both time and finance are two of the most valuable assets to a successful business.”
Time Finance said it will continue to operate from five locations across the UK – Bath, Cardiff, Abingdon, Manchester and Warrington.
The Group’s vehicle finance brokerage in Birkenhead providing used vehicle finance to consumers – whilst being part of Time Finance plc – will continue to trade as Car Finance 2U.
Acquisition history
Onepm Finance – Incorporated in December 1998
Academy Leasing – Acquired in August 2015
Bradgate Business Finance – Acquired in March 2016
Intelligent Loans – Acquired in March 2017
Positive Cashflow Finance – Acquired in June 2017
Gener8 Finance – Acquired in June 2017
Car Finance 2U – Acquired in December 2017
More about 1pm/Time Finance
British Business Bank grants 1pm increased CBILS allocation
Quotevine and 1pm plc sign a new four-year contract
Rebekah Middleton earns new post as 1pm’s head of hard asset
