Time Finance Asset Finance Review

Time Finance Asset Finance at a Glance

Our Verdict

Time Finance suits established SMEs in asset-heavy sectors that need a lender willing to look across two or three product lines in the same conversation, and it suits the business whose file does not flatter a high-street scorecard. We rate the case for picking it over a single-product lender on one capability most competitors cannot match: pairing asset finance and invoice finance inside one structured facility, with one credit team and one set of covenants. Add the regional offices, the willingness to fund soft assets, and a credit team that picks up the phone, and you get a flexibility algorithmic competitors do not offer. The fact that Time Finance will broker a deal out when its own book is not the best home is telling too: client outcome first, deal volume second.

Its public lobbying against the rigid application of Basel 3.1 capital requirements, specifically pressing to keep the SME support factor for non-bank lenders, signals genuine alignment with smaller businesses rather than a compliance-first defensive crouch. AIM listing matters here too. It forces published trading updates and audited accounts, which means you can read the lender’s own balance sheet before trusting it with yours.

The honest weaknesses are transparency and accessibility. There are no published rates, no standard eligibility thresholds beyond broad sector and asset-type guidance, and no end-to-end digital application route. The catch is the lack of published rates. If you want to compare costs before speaking to anyone, you will find that frustrating, and we would not pretend otherwise. Time Finance is also not the obvious answer for micro-businesses or sole traders with a single small-ticket need: the case-study range, the regional team structure, and the multi-product orientation all point at SMEs with a real balance sheet and layered funding needs.

Best For

• Established SMEs in construction, manufacturing, engineering, agriculture, transport, catering, and hospitality with two- to three-year filed accounts
• Businesses that need asset finance and invoice finance bundled inside one facility, with one credit team and one set of covenants
• Companies declined by high-street banks because cyclical trading or a recent rough year fails the scorecard despite a strong current book
• Businesses refinancing existing plant or equipment to release working capital without selling the asset
• Service-sector operators funding soft assets such as commercial kitchens, server rooms, and office fit-outs that other lenders push to unsecured borrowing

Not Ideal For

• Micro-businesses or sole traders with a single small-ticket requirement under roughly £25,000
• Borrowers who want a published rate table before any phone call
• Applicants expecting a fully digital, self-serve application from quote to drawdown

Key Facts

What Is Time Finance Asset Finance?

How Time Finance Asset Finance Works

Time Finance plc is headquartered in Bath and listed on AIM under the ticker TIME. It traded for years as 1pm plc, a name that nodded to its origins as a fast-decision invoice finance lender, before rebranding in December 2020 after a string of acquisitions broadened the product set. The new name was the tell: this is no longer a one-trick lender but a multi-product SME finance group. The lending book now sits north of £200m, supporting more than 10,000 SMEs each year. AIM listing is not a vanity badge here. It means published trading updates, audited accounts, and disclosure obligations, so the lender’s own financial health is something you can actually verify before signing a five-year facility.

Time Finance lends from its own balance sheet for most of what it writes, which means it owns the credit decision, the pricing, and the terms rather than passing the deal along to a third-party funder. When its own appetite does not fit a particular case, it will broker the deal out to its panel, an approach that puts the right outcome for you ahead of booking the deal in-house. We rate that flexibility, because it is not universal in this market.

The strongest practical reason to pick Time Finance over a single-product lender is its ability to put two or three facilities together into one structured arrangement. Real SME funding needs rarely arrive in tidy boxes. When the director of a manufacturer needs to refinance machinery to free up cash while at the same time releasing money trapped in a slow-paying debtor book, one credit team running both decisions in parallel is the whole point. An invoice finance lender solves the second problem and walks away from the first; a pure asset finance lender does the opposite. Time Finance can sit across both lines in the same conversation rather than leaving two unconnected lenders to pull against each other.

Hard Assets vs Soft Assets

Eligible sectors include construction, manufacturing, engineering, agriculture, transport and haulage, catering, hospitality, and leisure. Both hard and soft assets are on the table. Hard assets such as yellow plant, HGVs, and agricultural equipment carry clear secondary-market value and are straightforward to fund against. Soft assets such as catering equipment, IT hardware, and office fit-outs depreciate faster and carry more lender risk, which is why several competitors will not touch them.

Time Finance’s willingness to fund the soft side is a practical edge for service-sector businesses that are otherwise told to use unsecured borrowing at a worse rate. If your capital requirement is a kitchen refit or a server room upgrade rather than a digger, we rate that distinction as material to your headline cost.

Main Finance Options

Hire purchase (HP): you use the asset across the repayment term and own it outright at the end. Typically the right call when the asset has a long productive life and you want it on your balance sheet.

Finance lease: the asset stays on the lender’s books and you pay for the right to use it. End-of-term options vary; some vendor finance schemes include a Zero Finance Charge initial period before standard lease payments begin.

Asset refinance: raises capital against plant or machinery you already own. Useful when working capital is tight but selling the equipment is not a viable option. The Speedflex case study illustrates this: a £650,000 package pairing an asset-based lending line against existing equipment with an invoice finance facility for working capital, a complex cash-flow restructure that the high-street bank had walked away from.

Time Finance Asset Finance Rates and Fees

Interest Rates and Representative Costs

Time Finance does not publish a standard APR or rate table for asset finance. Pricing is bespoke and agreed deal by deal, which is the norm in B2B asset finance rather than a quirk of this lender. The rate you are quoted will turn on the residual value of the asset, the credit profile of the business, the term, and how the deal is structured.

Published case-study deal sizes range from around £200,000 up to £1.8m, though smaller and larger arrangements are clearly within reach depending on the asset and the business. Vendor partners using Time Finance’s white-label or panel finance services have access to an online lease calculator for indicative payments, but that is a trade tool, not a public-facing comparison. If you are shopping the market as a borrower, you will need to go directly to Time Finance or through a broker for a quote.

Fees and Charges

Documentation and arrangement fees are typically wrapped into the lease agreement rather than billed separately upfront. Time Finance does not publish a standard fee schedule. Specific charges will be detailed in the facility letter once a deal is structured. As with any asset finance agreement, read the end-of-term provisions carefully, particularly on a finance lease, where balloon payments or secondary rental periods can materially affect total cost. Don’t price in a balloon you didn’t see coming.

What Affects Your Rate

Four variables move the pricing: asset type and residual value (hard assets attract lower rates than soft); credit profile of the borrowing business (trading history, profitability, existing debt); deal term (shorter terms generally carry lower total interest); and deal complexity (multi-product facilities may carry structuring costs not present on a simple HP). For businesses with strong balance sheets and clean credit, Time Finance’s own-book lending model should produce competitive pricing. For more complex profiles, such as cyclical sectors, a recent dip, or a previous CCJ now settled, conversational underwriting opens doors that rate-first lenders won’t. We rate that human read as the real reason to call.

Time Finance Asset Finance Eligibility

Who Can Apply for Time Finance

Time Finance lends to all SME types, including start-ups. That is a meaningful distinction: most asset finance lenders want to see two to three years of filed accounts before they will look at an application. Time Finance’s willingness to consider younger businesses, subject to a credible business plan and bank statements, widens the door considerably for you. The product suite targets limited companies across asset-heavy sectors, though sole traders and partnerships are not explicitly excluded from the product descriptions.

Trading History, Turnover and Credit Checks

Credit assessment involves a credit search on the business. For newer businesses, supporting documents such as a business plan and bank statements will be required. Time Finance describes its underwriting as conversational and common-sense-led rather than purely score-driven. In plain terms, a human reads your file. When your business hit a rough year and is now trading well, that human read is what gets the file a second look the kind an algorithmic scorecard rejects on sight without ever seeing the upturn. There is no published minimum turnover threshold, and we rate that conversational stance as the lender’s strongest selling point for cyclical sectors.

Security and Personal Guarantees

For hire purchase and finance lease agreements, the asset itself typically serves as the primary security. Asset refinance deals are secured against the underlying equipment. Personal guarantees from directors are common across B2B asset finance, particularly for younger businesses or larger facilities. Time Finance does not publish its standard security requirements, and the position will vary by deal structure. Expect this to be discussed during your underwriting conversation rather than surfaced upfront in a published policy document, and ask the scope of any guarantee before you sign.

Time Finance Asset Finance Application Process

How to Apply for Time Finance

Applications come in through two routes: the broker network and Time Finance’s own regional teams. Direct offices in Bath, Birchwood, Manchester, and Reading are not just nameplates. When a relationship manager who knows the regional industry drives out to the yard to see the asset, an unusual deal gets a fairer read than a London desk underwriter reading a PDF can give it. There is no fully digital, self-serve application route for you. The process starts with a conversation, which is by design rather than by oversight.

Documents and Checks Needed

Expect to provide details of the asset to be financed (supplier quotes or valuations for refinance), business financial accounts (typically two to three years for established businesses), recent bank statements, and, for newer businesses, a business plan. A credit search will be run on the business and, in most cases, on its directors. For multi-product arrangements, information on your invoice finance book or existing facilities may also be required.

Approval and Funding Times

Time Finance does not publish indicative decision timelines. The Trustpilot review data consistently flags swift responses and a clean process from enquiry through to drawdown as positives. For straightforward deals on hard assets with a clean credit file, your turnaround should be competitive. More complex multi-product arrangements or soft-asset deals will take longer to structure. That’s the trade-off, and it is the price of bespoke underwriting, so it is worth knowing upfront. A relationship manager or broker is the best source of a realistic timeline for your specific case.

Time Finance Asset Finance Repayments, Flexibility and Risk

Repayment Terms and End-of-Lease Options

Asset finance terms run two, three, four, or five years. Shorter terms keep total interest down; longer terms ease monthly outgoings, which can be the difference between comfortable cash flow and a tight month during a growth push. For vendor finance schemes, some agreements include a Zero Finance Charge initial period, effectively an interest-free window before standard lease payments begin.

End-of-term provisions differ between HP and finance lease. With HP, title passes to you; with finance lease, the asset stays on the lender’s books and you will need to negotiate a secondary rental, return the asset, or arrange a sale and rebate. Read the end-of-lease clause before you sign. This is where the total cost difference between structures becomes most visible, and it is also where a lot of borrowers are caught out by a balloon payment they did not price in at outset.

Early Settlement and Default Risk

Time Finance does not publish early settlement figures. As with most asset finance agreements, early repayment is typically permitted subject to a settlement fee that reflects the outstanding interest. Default on a hire purchase or finance lease agreement puts the asset at risk of repossession, and a personal guarantee, if given, extends that risk to the guarantor’s personal assets. For asset refinance deals, default similarly risks recovery of the pledged equipment. We would stress-test the repayment schedule against a slow quarter before you draw down, not after.

Time Finance Asset Finance Customer Reviews

What Customers Like

Time Finance has 193 reviews on Trustpilot. Reviewers consistently flag three things: the speed of response, a clean process from enquiry through to drawdown, and the professionalism of individual relationship managers. A separate aggregator records a usefulness score of 4.8 out of 5 from 135 reviews, which suggests customers feel the service is practically helpful rather than merely polite, a meaningful distinction for a B2B lender, where the quality of the deal-structuring conversation matters as much as the headline rate. We rate that usefulness score as the signal that counts more than the star count.

Common Complaints

Negative themes are notably absent from the headline summaries across the review sets we reviewed. The friction points likely to emerge for you are the absence of published rates (making early-stage cost comparison difficult) and the lack of a digital self-serve journey. Neither is unusual in mid-market B2B asset finance, but both add steps to your process. The catch is the absence of a self-serve route. Individual experience will vary by deal complexity and the specific relationship manager you draw.

Time Finance Support and Regulation

Customer Support

Time Finance operates through direct regional teams in Bath, Birchwood, Manchester, and Reading, alongside an established broker network. The regional structure is designed to put relationship managers close to the industries and geographies they serve. Your contact is relationship-led rather than routed through a central call centre, which aligns with the conversational underwriting model and the complexity of deals in the target market. There is no published out-of-hours support arrangement.

Regulatory Status and Complaints

Time Finance plc is listed on AIM. Two subsidiaries hold FCA authorisations: Time Loan Finance Limited (FRN 710117) and Time Vendor Finance Limited (FRN 628891). Asset finance to limited companies sits largely outside FCA regulation, which is industry-wide and not specific to Time Finance, so the consumer protections that apply to personal loans do not typically extend to business asset finance facilities. If you are relying on regulated product protections, confirm the regulatory position of your specific facility before proceeding. Formal complaints should be directed to Time Finance directly; escalation to the Financial Ombudsman Service is available only for regulated products.

Time Finance vs Alternatives

Time Finance vs Lombard Asset Finance

Lombard, part of NatWest Group, is the largest asset finance provider in the UK market. It offers broad sector coverage and the balance-sheet depth of a major bank, and you will find the NatWest relationship useful if you already bank there. The difference with Time Finance is in underwriting flexibility: Lombard’s scale means more systematised credit assessment, which can work against businesses with non-standard files or cyclical trading histories. Time Finance’s conversational underwriting and willingness to structure multi-product arrangements give it an edge on complex deals that do not fit a template. For straightforward hard-asset finance on a clean credit file, Lombard may be competitive on rate; for anything more layered, we would have the Time Finance conversation first.

Time Finance vs Paragon Asset Finance

Paragon is a specialist lender with strong sector coverage across SME and mid-market asset finance, including healthcare and professional services. Like Time Finance, Paragon operates with a relationship-led model and is not purely algorithmic in its underwriting. The distinction is product breadth: Time Finance’s ability to bundle asset finance with invoice finance and business loans into one facility is a differentiator that Paragon, as a single-product lender for asset finance purposes, cannot replicate. For a pure asset finance need, we would approach both for quotes. For interdependent funding requirements, Time Finance’s multi-product capability is the deciding factor.

Final Verdict: Is Time Finance Asset Finance Worth It?

Time Finance earns its place on the shortlist for any established SME in an asset-heavy sector that needs a lender willing to read the whole business rather than just the credit file. We rate the human underwriting, the soft-asset coverage, the regional presence, and above all the multi-product packaging capability as genuinely distinctive in a market where most providers are narrower in scope. The Speedflex case, a £650,000 combined asset-based lending and invoice finance package put together after a high-street bank walked away, is the clearest illustration of what Time Finance can do that others cannot.

The product is not for everyone. If you need published rates for upfront comparison, a digital application, or a fast decision on a small single-ticket deal, you will find the process frustrating. But if you are running a growing business with layered cash-flow needs and you want a lender that will pick up the phone, understand the balance sheet, and put a structured deal together, we rate Time Finance as a serious option. Pick up the phone before you assume the answer is no; the businesses that get the most out of this lender are the ones that show up with the full picture, not just the asset.

Frequently Asked Questions

Does Time Finance publish its interest rates?

No. Each deal is priced individually on the asset type, residual value, borrower credit profile, and term. That is the norm in B2B asset finance, where blanket APRs are rarely published. For indicative pricing, contact Time Finance directly or go through a broker, and we would always benchmark the quote against one rival.

Can start-up businesses apply for Time Finance asset finance?

Yes. Time Finance considers start-ups, though as a newer business you will need to provide a business plan and bank statements. The underwriting is case-by-case rather than score-driven, which makes it more accessible than lenders that enforce a hard minimum trading history.

What types of assets does Time Finance fund?

Both hard and soft assets. Hard assets include yellow plant, HGVs, and agricultural equipment. Soft assets, declined by some lenders because they depreciate faster, include catering equipment, office IT, and fit-out costs. That spread covers most sectors from construction and manufacturing through to hospitality and professional services.

How do I apply for Time Finance asset finance?

Apply through one of Time Finance’s regional offices in Bath, Birchwood, Manchester, or Reading, or through its broker network. There is no fully digital self-serve route; your process starts with a conversation with a relationship manager or broker who will scope the requirement and build the facility around it.

Is Time Finance regulated by the FCA?

Time Finance plc is AIM-listed. Two subsidiaries hold FCA authorisations: Time Loan Finance Limited (FRN 710117) and Time Vendor Finance Limited (FRN 628891). Asset finance to limited companies sits largely outside FCA regulation, which is industry-wide and not specific to Time Finance, so the consumer protections that apply to personal loans do not typically extend to business asset finance facilities.

What asset finance terms does Time Finance offer?

Asset finance terms of 2, 3, 4, or 5 years are available. Shorter terms reduce total interest cost; longer terms lower monthly payments and ease your cash flow during growth phases. Some vendor finance schemes include a Zero Finance Charge initial period before standard payments begin.

Can Time Finance combine asset finance with invoice finance?

Yes. This is one of Time Finance’s clearest differentiators. It can package asset finance and invoice finance into a single multi-product facility, with one set of covenants, one credit team, one reporting cycle, and pricing that reflects the combined risk rather than two unconnected lenders pricing against each other. The Speedflex case study (£650,000 asset-based lending plus invoice finance) illustrates the mechanic. Single-product lenders cannot replicate this.