1pm, the independent Bath firm providing asset leasing finance to small firms, has increased its funding lines by £700,000 via two separate loans. The money is exclusively for the purpose of writing new leases. The company says it also continues to generate profits on a monthly basis and to fund part of its growing lease portfolio with cash generated from day to day trading. Levels of new business enquiries remain encouraging and have been boosted by a new lending initiative in Northern Ireland.
The AIM listed company is focused on providing SMEs with an accessible funding pool. Customers must have clear credit histories and an ability to pay their commitments. Assets leased are business critical. 1pm typically lends between £1,000 – £40,000 for between 12 and 60 months.
