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SpeedFlex secures £650,000 asset-based lending facility from Time Finance - The Intermediary - Latest UK mortgage news

Summary

Time Finance has provided a £650,000 asset-based lending facility to SpeedFlex Engineering, an engineering firm in Stourport-on-Severn, to support growth plans. The deal includes a £250,000 confidential invoice finance facility and a £400,000 asset finance facility, enabling SpeedFlex to invest in operations and growth. The company, which makes components for the aerospace, automotive, and gas turbine industries, has grown its turnover from £500,000 to £1.6m. Stephen Dunstall (pictured, right), managing director at SpeedFlex, consulted The Director’s Choice, which recommended Time Finance for their approach to multi-product lending. Sam Evans (pictured, centre), regional sales manager at Time Finance, said: “We were thrilled when SpeedFlex Engineering was referred to us. “Collaborating with Rob Walters from our Invoice Finance division to see the transformation of cashflow worries into strategic business growth plans is exactly what we aim to do here at Time.

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