First place in a major financial services index has gone to Bath-headquartered Time Finance in recognition of its excellence in the invoice finance sector.
The alternative finance provider, which specialises in asset, loan and invoice finance products, came joint top in Business Money magazine’s 25th Receivables review of the invoice finance.
The annual Receivable Intermediaries Index recognises and celebrates the leading providers delivering all-round service excellence to their clients – from onboarding through to appraisal, relationship management and retention.
Business Money partnered with the National Association of Commercial Finance Brokers (NACFB) to survey UK introducers – from financial advisors to brokers and accountants – to rank them in order of service excellence.
Time Finance and Advantedge Commercial Finance were awarded first place, followed by Close Invoice Finance in third.
Time Finance head of invoice finance Phil Chesham, pictured, described the firm’s success as a “fantastic and very well-deserved achievement” for the team.
“It’s testament to the commitment of the people we have here who are passionate about supporting our clients and making a real difference to their success,” he added.
“Our priority is, and always will be, building strong relationships with our clients. This starts with understanding the background behind the business, the director’s vision for the future and how we can work together to spot opportunities and overcome challenges.
“It’s no surprise that our highest score was achieved in delivering excellent customer service levels when our average client lifespan exceeds what’s typically seen in our industry and sits at five years.”
He said the firm’s invoice finance packages were playing an important role in helping businesses to rebuild the economy.
“We are committed to delivering robust funding solutions to these firms that inspire confidence and growth. We have ambitious plans to drive change in the market and lead the way as we provide more support for SMEs,” he added.
Time Finance, which rebranded from its original name 1pm in 2020, has offered invoice finance for more than 15 years. During that time, it has supported businesses from all corners of the UK and assisted a wide range of growth plans from investment to expansion, mergers and acquisitions as well as resolving cashflow issues.
Alongside funding facilities ranging from £10,000 to £2.5m, Time Finance offer complementary services invoice finance – its XTRA Time facilities help clients to access additional funding on top of their existing facility, not only to boost cashflow and provide peace of mind that extra funding support is available whenever they may need it.
Meanwhile, its optional Selective Bad Debt Protection product mitigates the risk of bad debts and allows clients to pick and choose which customer they want to cover.
Time Finance has been growing its invoice finance offering alongside its other core business areas of asset finance, commercial loans, property finance and vehicle finance for
