Growth Guarantee Scheme Accreditation

Financial Calendar Update

Time Finance plc, the AIM listed independent specialist finance provider, is pleased to announce that it has been approved as an accredited lending partner under the UK Government's Growth Guarantee Scheme ("GGS") which is administered by the British Business Bank and was launched on 1 July 2024. GGS is the successor scheme to the Recovery Loan Scheme ("RLS") and Coronavirus Business Interruption Scheme ("CBILS") of which the Group was also an accredited lender.

The Company additionally announces some key dates in its 2024 Financial Calendar.

Growth Guarantee Scheme Accreditation

The British Business Bank has approved Time Vendor Finance Ltd and Time Hard Asset Finance Limited, wholly-owned subsidiaries of the Company, for accreditation as participating lenders under the scheme.

The GGS accreditation provides an additional channel for the Group to deliver support to the UK's smaller businesses, adding to the Group's current lending activities alongside Asset Finance, Loan Finance and Invoice Finance. The scheme accreditation provides the added benefit of a government-backed guarantee to loans provided by the Group, the scheme covers 70% of any outstanding balance, post a recovery process.

The Group intends to be an active lender for the duration of the Growth Guarantee Scheme.

Financial Calendar Update

The Group plans to announce audited annual results for the year ending 31 May 2024 and, simultaneously, its Q1 FY2425 trading update on Wednesday 25 September 2024. The Company proposes to hold its Annual General Meeting on Tuesday 5 November 2024.

Ed Rimmer, Chief Executive Officer, commented:

"Time Finance has built a strong relationship with the British Business Bank over a number of years working together and I am very pleased we have been approved as an accredited lender under the GGS. This arrangement allows us to further employ the flexibility, speed of service and personal approach that differentiates our offering. As we continue to work towards becoming the specialist funder of choice for UK SMEs, it is relationships like the one we have with the BBB, that will enable us to achieve this ambition. I look forward to updating everyone on our progress with regards to this new scheme and our other achievements in more detail following our results publication in September."