1pm, the Bath-based independent specialist finance provider, has changed its name to Time Finance in a move it said reflected it becoming a unified brand that delivers a comprehensive financing solution to small and medium-sized UK businesses.
The rebranding follows the recent completion of a ‘buy-and-build’ phase of 1pm’s strategic expansion, it said.
The group, which was established in 2006 and is listed on the London Stock Exchange Group’s AIM market, had been on an acquisition spree up until last year, entering new areas of the small business finance market by snapping up established operators in fields such as invoice finance, vehicle finance and commercial loans.
It said this had resulted in it being able to offer a comprehensive portfolio of financing solutions tailored for the UK SME market through its enhanced lending and broking operations.
At the beginning of last year it announced a five-year plan based on organic growth and “carefully selected acquisitions” to build a lending portfolio of approximately £350m.
This week it said it was now simplifying its operating structure into a single nationally recognised, market-facing product offering under the new name.
All subsidiary businesses now operate under the Time Finance brand.
Chief executive officer Ian Smith, pictured, said: “The underlying strength of our market position, product offering, business model and robust operating structures have proven resilient, relevant and effective during the continuing economic and trading challenges presented by the Covid-19 pandemic.
“The rebranding of the business is designed to further consolidate and strengthen our offering, integrating and unifying 1pm (UK) Ltd, trading as Onepm Finance, Academy Leasing; Bradgate Business Finance; Intelligent Loans; Positive Cashflow Finance and Gener8 Finance under one consistent brand name and identity to deliver a more comprehensive solution to UK SME businesses.”
