Time Finance has provided a steel manufacturing business with a combined £2.55 million funding package, strengthening the company’s access to working capital and supporting greater financial flexibility.
The multi-product arrangement comprises a £2.25 million confidential invoice finance facility and a £300,000 Xtra Time Loan. The new package replaces the manufacturer’s existing invoice finance agreement and gives the business access to a broader funding structure designed around its operational requirements.
Invoice finance enables a company to release cash tied up in unpaid customer invoices rather than waiting for customers to settle their accounts. For a manufacturer, where expenditure on materials, labour and production can arise well before payment is received, this can reduce the pressure created by timing differences between outgoing costs and incoming revenue.
The confidential nature of the facility means the funding arrangement can operate without customers being made aware of the lender’s involvement. This allows the manufacturer to retain control over its customer relationships and credit collection processes while gaining earlier access to cash generated through sales.
The additional £300,000 Xtra Time Loan adds another layer of liquidity to the package. Combining invoice finance with a separate loan facility may provide greater room to manage short-term commitments, respond to changes in demand and maintain continuity across the production cycle.
Replacing an existing funding provider also demonstrates Time Finance’s ability to structure facilities for established businesses that already use invoice finance but require a different level of support.
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.
