Time Finance has provided a £400,000 Invoice Finance facility to Wolverhampton-based LS Manufacturing, giving the clothing manufacturer additional working capital as it grows.
LS Manufacturing, founded in the 1950s, is a long-established UK clothing manufacturer specialising in high-end garment production. The latest funding agreement builds on an existing relationship with Time Finance and is intended to give the business greater flexibility as trading activity increases.
The two companies previously worked together in 2020, when Time Finance provided LS Manufacturing with a £400,000 cashflow facility during the Covid-19 pandemic. At the time, the manufacturer adapted its production capabilities to supply personal protective equipment to the NHS.
The new facility is designed to release cash tied up in outstanding customer invoices, allowing LS Manufacturing to access funds earlier and support day-to-day operations without having to wait for customers to pay. That is particularly relevant for manufacturing businesses, where spending on materials, wages and production often takes place well before payment is received. As sales grow, those working capital demands can increase quickly.
The £400,000 Invoice Finance facility gives LS Manufacturing additional liquidity to manage that timing gap. It also gives the company more scope to take on new work without placing the same pressure on internal cash resources.
For Time Finance, the deal highlights the value of repeat client relationships. LS Manufacturing has returned to the lender after using its funding support previously, giving Time Finance another opportunity to expand an established commercial relationship. The transaction also underlines the role of Invoice Finance within Time Finance’s broader funding offering. The product allows businesses to borrow against unpaid invoices, improving access to cash generated from completed sales.
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.
