A UK PCO vehicle rental business has secured a £540,000 asset finance facility from Time Finance to expand its taxi fleet, increasing capacity at a point where access to compliant vehicles remains central to driver demand.
The funding was agreed and delivered within a short timeframe, allowing the operator to move directly from approval to vehicle acquisition. In the private hire market, speed matters. Drivers require road-ready, PCO-approved cars to earn, and any delay in fleet availability can translate into lost rental income or reduced driver retention. By securing structured funding quickly, the company has reduced that risk and positioned itself to meet ongoing demand.
The capital has been used to purchase additional compliant vehicles for rental to licensed drivers operating in major urban areas. For a rental operator, each vehicle represents a revenue-producing asset. Expanding the fleet increases earning capacity, provided utilisation remains stable. The key investor consideration is therefore not simply growth, but the method of financing that growth.
Time Finance plc (LON:TIME) is an AIM-listed business specialising in the provision or arrangement of funding solutions to UK businesses seeking to access the finance they need to realise their growth plans. Time Finance can fund businesses or arrange funding with their trusted partners through Asset Finance, Invoice Finance, Business Loans, Vehicle Finance or Asset Based Lending.
