Time Finance provides commercial finance services. The Company offers asset finance, hire purchase, and commercial loans through invoice finance and factoring. It operates in three segments: Asset Finance, Hire Purchase, and Commercial Loans. Its asset finance offers loans secured by fixed assets, including cars, trucks, vans, caravans, and motorbikes; its hire purchase offers consumer credit contracts secured by consumer goods, and its commercial loans offer revolving lines of credit against invoices from businesses in the United Kingdom.
The Time Finance Advantage
To attract top talent, you need to be more than just competitive; you need to demonstrate how your company is industry-leading. And there’s no better way to do that than with Time Finance. By borrowing money for up to 12 months, using their invoices as collateral, small businesses can get cash flow and working capital at rock-bottom rates.
With hundreds of loan products available and no security required it makes sense for anyone who needs access to finance quickly but doesn’t want loads of paperwork or a formal Time Finance relationship with a bank. Want to compete with banks on speed? We provide factoring solutions which let you sell your receivables at any time in as little as two days so don’t waste any time finding out what we can offer today!
As part of our commitment to business growth PLC provides factoring services across most industries including manufacturing, transport, logistics, construction, retail, and hospitality industries. Finance brings new meaning to ‘sell now pay later’ by providing our clients with funding 24/7 throughout every stage of their invoice cycle. In contrast to traditional finance, Time Finance lets small businesses access loans without having to put up any collateral.
A business only needs enough profit to cover its outstanding invoices to qualify for a loan It’s also able to spread the payment of fees across different periods enabling it to make regular payments on a flexible schedule. And even if a client has no money coming in at all because they’re starting or going through hard times they can still use Time Finance factoring solutions.
Research and Development
The Company engages in R&D activities through one of its subsidiaries that focus on developing new products. This subsidiary is also responsible for technology transfers and building up manufacturing operations across all businesses. It executes incremental product development programs, which helps it offer an enhanced Time Finance range of commercial finance services to its customers. It also provides quality control systems as well as a Quality Management System (QMS) certification to help meet customer and regulatory needs, ensuring greater levels of quality in its processes and service levels.
R&D expenditures remained at USD 2.4 million in 2014 compared with USD 3.3 million in 2013 mainly due to reduced spending on research projects with WHAT IS ASSET FINNACE? relating to general market testing; lower than planned investment spending from deferred milestone payments from long term agreements.
In addition, it intends to continue to identify projects that enhance value for customers and also meet its internal objectives over time. On an annual basis, it also plans to invest in Time Finance product innovation as well as improve operating efficiency and provide better service levels to its clients. Overall, it expects research and development expenditures will remain flat over the next few years at about USD 2 million annually.
The company also operates one of its subsidiaries (research and development subsidiary) that carry out research activities. The objective of these research activities is to develop new products and technologies. This subsidiary is also responsible for technology transfers to other group companies as well as capacity building for manufacturing operations across all businesses.
Its objective is to keep up with customer and regulatory needs so that it can offer enhanced services to its customers and meet their requirements. Providing high-quality products, which meet Time Finance regulatory standards, helps drive customer confidence in its services. As a result, more customers are likely to switch over to using their commercial finance services rather than competitors’ offerings. Further, products improvements help reduce operational costs, helping it provide competitive pricing on both existing products as well as new offerings.