Time Finance gets £3.25m block facility increase from Conister

Conister Bank — part of Manx Financial Group — has added £3.25m to an existing block financing agreement with Time Finance, bringing the total to £6.25m.

This is set to help Time Finance provide funding via hire purchase leasing to SME firms as they navigate the economic impact of the Covid-19 pandemic.

The funding comes off the back of a 10-year relationship with Conister.

Kai Hunter, executive director at Conister, said: “We’re delighted to announce the block funding agreement with Time Finance. 

“This agreement is testament to our long-standing relationship, unified in the aim of supporting companies in resilient sectors in the wake of wider economic uncertainty. 

“We will continue to work with non-bank financial institutions to provide the necessary liquidity to resilient SMEs.”

James Roberts, chief financial officer at Time Finance, commented: “Having worked with Kai and his team at Conister for a number of years, I’ve really been impressed with their understanding of our business and their flexibility in meeting our needs. 

“It was therefore an easy decision to renew our partnership with Conister and I’m pleased to have also increased the facility, enabling us to help more UK businesses with their funding needs.”

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