fresh banking facilities from Handelsbanken worth £350,000.
The move happens just two months after it received an extra £1m
in banking facilities from three lenders. This doubled the amount
the lessor had on loan, and increased the funds it had available
for lending from £132,000 to £848,730, an increase of 543 per
cent.
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1pm said it will use the cash to “negotiate additional
funding lines”.
The company, which reported an annual loss of £330,907 for the
fiscal year ended May 31, 2007 exited the sub-prime loans market in
which it had been active since 1998 to concentrate on funding
small-ticket leasing deals.
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