Time Finance, the Bath-headquartered alternative funder, has become an accredited lender under the government’s latest iteration of the Recovery Loan Scheme.
Launched by the British Business Bank, the scheme is designed to help small businesses access finance to invest and grow.
Time Finance, which specialises in asset, loan and invoice finance products, has been an accredited lender under the previous Coronavirus Business Interruption Loan (CBILS) and Recovery Loan (RLS) schemes over the past two years.
This, the firm said, demonstrated its continued commitment to support British businesses as they rebuilt their finances from the impact of the pandemic and are now navigating through the cost of living crisis.
Under the new scheme, Time Finance will work with a select panel of brokers to support small and medium-sized businesses access loans between £50,000 and £100,000 as well as asset finance facilities from £50,000.
Time Finance CEO Ed Rimmer, pictured, said a staple part of any business plan was securing finance for future growth and the Recovery Loan Scheme could help business owners do just that.
“We are thrilled that the British Business Bank has accredited us as a lender under the revised scheme and as with the other government initiatives,” he said
“This new offering will complement our existing portfolio of funding solutions well.
“Throughout the pandemic – and now the cost of living crisis – our teams remain committed to delivering supportive finance solutions that create confidence and inspire growth.
“We’re proud to have this accreditation under our belt and look forward to continuing to help more businesses access the cash they so urgently need.”
Time Finance supports around 10,000 businesses with flexible and supportive funding packages.
Over the past 12 months it has developed and launched new products, including its ‘Fast Track’ soft asset finance solution, which makes the process of securing new equipment swifter and easier.
