Time Finance names new operations chief for asset finance team

Time Finance, a prominent independent lender based in the UK, has announced the appointment of Bethan Holliday as the new head of operations for its asset finance team. This strategic decision aims to enhance the company’s lending capabilities and expand its reach within the small and medium-sized enterprise (SME) sector. As Time Finance sets ambitious goals to grow its lending book to £300 million (approximately $401.7 million), Holliday’s extensive experience in financial services is expected to play a pivotal role in achieving this vision. In this text, we will explore her background, responsibilities, and how her leadership aligns with Time Finance’s growth strategy.

Meet Bethan Holliday: A Veteran in Financial Services

Bethan Holliday brings over 20 years of experience in the financial services industry to her new position at Time Finance. Prior to joining, she held a senior role at Ultimate Finance, where she honed her skills in operations management and business finance solutions. Her wealth of knowledge will be crucial as she takes charge of overseeing the asset finance team’s operations.

Key Responsibilities and Focus Areas

In her new role, Holliday is tasked with streamlining systems and optimizing processes within the asset finance department. Her primary objective is to enhance efficiency for SMEs seeking business financing options. By refining these operational aspects, she aims to ensure that Time Finance can provide top-notch service to brokers—a core element of the company’s growth strategy.

A Strategic Appointment for Growth

The timing of Holliday’s appointment is particularly significant as Time Finance embarks on a new three-year strategic plan focused on sustainable growth. According to Steve Nichols, Managing Director of Asset Finance at Time Finance, Holliday’s expertise will be instrumental in increasing automation capabilities within their operations. This move is intended not only to improve internal efficiencies but also to enhance service delivery for brokers and customers alike.

Time Finance’s Ambitious Lending Goals

Time Finance has set an ambitious goal of expanding its lending book from £217 million reported for the fiscal year ending May 31, 2025, to £300 million. The company has attributed its past successes—marked by an impressive 16 consecutive quarters of growth—to a strong focus on secured lending tailored specifically for UK businesses.

Diversification Through Asset Financing

The company noted that both invoice finance and asset finance accounted for over 90% of their new lending volume. As these areas represent significant portions of their total lending portfolio—currently standing at 83%—Holliday’s leadership could help drive further growth and innovation within these sectors.

Financial Performance Metrics

For FY24/25, Time Finance reported an 11% increase in revenue reaching £37 million while profit before tax rose by an impressive 34%, totaling £7.9 million. Notably, their profit margin improved by 300 basis points up to 21%, with net tangible assets growing by 14% reaching £44.1 million.

Recent Enhancements Within the Team

The appointment of Holliday complements recent bolstering efforts within the organization including hiring Terry Wolfendale as Head of Sales and Paul Rice as Business Development Manager—both aimed at enhancing their invoice finance offerings further.

A Visionary Leader’s Perspective

On her appointment, Bethan expressed enthusiasm about joining Time Finance during such a transformative time for the business. She stated that she had long viewed Time Finance as an innovative challenger in the industry and saw this opportunity as one that aligned perfectly with her career goals.

The Road Ahead: Emphasis on Efficiency**

Moving forward, with Holliday at the helm overseeing operations within asset finance—and underlining efforts towards automation—the expectation is that Time Finance will continue its trajectory towards achieving its ambitious lending targets while maintaining high levels of customer satisfaction among brokers and SMEs alike.

This strategic move positions Time Finance not just as a lender but also as a partner invested in helping SMEs thrive through efficient financing solutions tailored specifically for their needs.

If you are interested in exploring financing options or learning more about how companies like Time Finance can assist your business endeavors, visit applyforfinancing.com.