Positive Cashflow offers invoice finance facilities between £10,000 and £1m to businesses across a wide range of industries.

The company has 190 registered clients and employs 24 staff in offices based in Manchester and Birmingham.

This acquisition marks the second invoice finance company purchased by 1pm in a month following the purchase of Gener8 Finance Ltd, which is based in Abingdon, Oxfordshire.

The two businesses will provide 1pm with national coverage as Positive Cashflow predominantly covers the North and Midlands area, while Gener8 mainly serves clients in the South.

Ed Rimmer, managing director of the commercial finance division at 1pm (pictured above), said: “I am delighted to welcome David and his team into the 1pm PLC group.

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“Positive Cashflow Finance is a well-known name and is well respected within the invoice finance industry, particularly in the North and Midlands, and the business has developed a strong reputation for providing a high level of flexible and personal service to its clients and introducers.

“1pm’s stated objectives for growth include management identifying adjacent business-lending products in order to provide a ‘multi-product’ offering to SMEs so that they have a choice of methods to finance their businesses.”

David Smith, managing director of Positive Cashflow, added: “We are likewise delighted to join the 1pm PLC group.

“1pm’s extensive product offering will greatly enhance our ability to continue to provide outstanding service to our existing and future clients as well as offering numerous opportunities to cross-sell our products and services within the enlarged 1pm Group.

“We are also very pleased to be working alongside Ed Rimmer in helping to take the newly established commercial finance division forward.”