Increase in Loan Facilities

RNS Number : 9424E

1PM PLC

17 May 2013

 



                                                                                                                                                  17 May 2013

1PM PLC

(AIM: OPM)

Increase to two Block Discounting Facilities

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 successfully negotiated increases to two of its Block Discounting Facilities, totalling £1.25m. These additional funds will be used exclusively for the purpose of writing new lease contracts.  

Maria Hampton, CEO of 1pm, commented:

"The need for this additional funding has been driven by increasing customer demand. It also reflects the hard work, dedication and growing reputation within our industry of the 1pm team, who have been instrumental in making the Company continuously profitable over the last three years.

"These increased facilities, together with our other existing credit lines will enable us to continue our support for SMEs within the UK economy, whose own ability to expand has been hindered over recent years due to a lack of credit via the mainstream UK banking industry".

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
	[e-mail]

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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