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6 Aug 2013 07:00
6 August 2013
1PM PLC
(AIM: OPM)
New £1.5million Block Discounting Facility
1pm plc ("1pm" or "the Company"), the AIM listed specialist independent provider of lease asset finance to the SME sector, is pleased to announce that it has negotiated a new Block Discounting Facility totalling £1.5million. This additional funding will be used exclusively for the purpose of writing new business.
The loan terms are consistent with those of other funders to the Group.
The Group also announces that it has received a further £270,000 from its quarterly loan programme with Lesmoir-Gordon, Boyle & Co. Limited, set up in March 2013. This is the second quarterly tranche, making aggregate loans to date of £0.59million.
Maria Hampton, CEO of 1pm, commented:
"The new block discounting facility will give the Group additional capacity to further its growth and to satisfy the continuing demand for finance from the SME sector. It also demonstrates the growing reputation the Group enjoys within the marketplace as an independent, flexible provider of lease asset finance."
For further information, please contact: | |
1pm plc | |
Mike Johnson, Chairman | 0844 967 0944 |
Maria Hampton, CEO | 0844 967 0944 |
WH Ireland (NOMAD) | |
Mike Coe | 0117 945 3470 |
Winningtons Financial PR | 0117 985 8989 |
Paul Vann | 07768 807631 |
paul.vann@winningtons.co.uk |
About 1pm:
1pm plc is an established independent asset finance company focused on providing SMEs with accessible funding to add value to their businesses. All customers must have good credit histories and proven ability to repay their finance commitments. 1pm currently lends from £1,000 to £50,000 for a period of between 12 and 60 months. The Company was admitted to AIM in August 2006.
Mission Statement - 'Helping the UK economy grow by supporting SMEs'
You can find more information on the Company website www.1pm.co.uk
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