4th Mar 2013 07:00
For Immediate Release 04 March 2013
1PM PLC
(AIM: OPM)
New Loan 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 agreed a new £1 million loan facility with an overseas commercial and retail bank. The funds will be used exclusively for the purpose of writing new lease contracts.
The loan terms are consistent with those of other funders to the Group.
Since November 2012 the Group has also raised an additional £420,000 of new loans from various sources including a SIPP fund.
Maria Hampton, CEO of 1pm, commented:
"This is a significant additional facility from a new provider to the Group and reflects 1pm's growing reputation and financial standing within the lease asset finance industry. We look forward to building a long standing relationship with the Bank and are delighted to have their support."
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 |
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.
You can find more information on the Company website www.1pm.co.uk
Related Shares:
OPM.L