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Investegate |Time Finance PLC Announcements | Time Finance PLC: New Loan Accreditation & Financial Calendar Update


 
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Time Finance plc, the AIM listed independent specialist finance provider,
is pleased to announce that it has been approved as an accredited lending partner under the UK Government's Recovery Loan Scheme ("RLS") which is administered by British Business Bank. RLS is the successor scheme to the Coronavirus Business Interruption Scheme ("CBILS") of which the Group was also an accredited lender.
 
 
RLS Accreditation
The British Business Bank has approved Time Broker Finance Ltd, a wholly-owned subsidiary of the Company, for accreditation as a participating lender under RLS.
 
Since the beginning of the COVID-19 crisis, Time Finance has resolved to remain open for new business to support credit-worthy, robust SMEs as well as helping its existing 20,000+ customers. The RLS accreditation provides an additional channel for Time Finance to deliver support to SMEs, adding to the Group's current lending activities comprising Asset Finance, Loan Finance and Invoice Finance. RLS accreditation also provides the added benefit of a government-backed guarantee covering 80% of the repayments due from each borrower.

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