UK SME finance provider Time Finance has announced a £58,500 asset finance facility to support engineering firm, DARL Engineering with new machinery investment.
The Coventry-based firm – which specialises in engineering solutions for the automotive and industrial sectors – approached the funder with assistance to buy a specialised machine capable of manufacturing replacement engines for the iconic Porsche RSR that would help them to fulfil new contracts.
Kim Lynam, director at DARL Engineering, said: “We are grateful to Time Finance for their support. This asset finance facility has empowered us to invest in the necessary machinery to take on this new and exciting contract.”
Matt Graham (pictured), head of vendor sales at Time Finance, said: “The precision engineering industry requires companies to constantly upgrade their capabilities to meet evolving demands.”
Time Finance specialises in the provision of funding solutions to UK businesses seeking to access finance.
DARL manufactures products in its 2,500 sq ft factory space, housing 8 CNC machines.