New Funding Lines

RNS Number : 0707X

1PM PLC

09 February 2012

 



1PM PLC

(AIM: OPM)

New Funding Lines

1pm plc ("1pm" or "the Company"), the AIM listed independent provider of asset finance facilities to the SME sector, is pleased to announce that it has increased its funding lines by £700,000 via two separate loans.

The loans are exclusively for the purpose of writing new leases. The Company continues to generate profits on a monthly basis and to fund part of the growing lease portfolio with cash generated from day to day trading. Levels of new business enquiries remain encouraging and have been boosted by the Company's new lending initiative in Northern Ireland.

Maria Hampton, Managing Director of 1pm, commented:

"The Board believes that these loans demonstrate increased confidence in the Company and as cash is our raw material we are delighted to have access to additional funds which will be used to grow the lease portfolio and therefore strengthen the balance sheet further."

1pm plc
Mike Johnson, Chairman	0844 967 0944
Maria Hampton, Managing Director	0844 967 0944
	www.1pm.co.uk
WH Ireland (NOMAD)
Mike Coe / Marc Davies	0117 945 3470
Walbrook PR Ltd	020 7933 8780
Paul McManus	07980 541 893
	[e-mail]

About 1pm:

1pm plc is an established small ticket leasing company 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.

 

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