Independent SME lender Time Finance has announced its expansion into the materials handling sector, marking a significant move in its long-term growth strategy.
The company has appointed Phil Blea as Regional Sales Manager to lead this new division within its Asset Finance arm.
This strategic shift will see Time Finance extend its asset finance solutions to cover heavy machinery and specialist equipment used in manufacturing, warehousing, and material storage – industries where equipment investment is vital to operations.
The move follows the lender’s appointment of Phil Blea, who brings a strong track record in asset-based lending and vendor finance, having held senior roles at firms such as Close Brothers and Linde.
Phil’s remit focuses on developing Time Finance’s presence in the materials handling market, establishing funding options for clients across a wide credit spectrum – including businesses with more complex credit profiles.
“I am very excited to be joining Time Finance at such a crucial time,” said Phil. “I’m thrilled to be playing a part in the company’s move into the materials handling sector and the role it will play as the business embarks on its new 3-year growth strategy, and I’m looking forward to helping build our presence in the market.”
This expansion forms a key element of Time Finance’s ambition to grow its own-book lending to over £300 million by 2028. The company has already made significant progress towards this goal, recently reporting a record £217 million in own-book lending for the year ending 31 May 2025.
“Establishing our specialist materials handling team forms an integral part of our wider growth strategy,” said Steve Nichols, Managing Director of Asset Finance at Time Finance.
“By developing innovative sector funding, we are tailoring our asset finance and multi-product solutions for key sectors and supporting businesses as they grow. Phil will play a pivotal role in helping us to build our presence and I’m delighted he has decided to join the team.”
Time Finance offers a range of funding solutions to UK SMEs, including Asset Finance, Invoice Finance, Business Loans, and Asset Based Lending – all designed to help businesses access the working capital and investment they need to thrive.