The facility will be used exclusively to increase the number of invoice finance facilities offered to business owners throughout the UK.
The alternative finance lender — which provides invoice finance facilities of up to £2.5m, as well as asset, loan and vehicle lending solutions — has recently seen an increase in the level of funding requests as businesses are working towards returning to pre-Covid levels.
Phil Chesham, head of invoice finance at Time Finance (pictured above), said: “Securing this increased funding facility is a significant boost to us and is reflective of the confidence RBSIF has in our business and the vital funding support we provide to firms across the UK.
“It not only helps our ambitious growth plans, but it also means that we are able to make available additional funding to SMEs looking to access finance and take their business to the next level.
Read the full article at: Time Finance secures additional funding from RBS to boost invoice (bridgingandcommercial.co.uk)