A UK-based financial services provider, Time Finance, has announced the appointment of Terry Wolfendale as the new head of sales for its southern invoice finance division. This strategic move aims to strengthen the company's support for SMEs in London and the South East. With a goal to expand its lending portfolio beyond £300 million by 2028, Time Finance is bolstering both its team and technological capabilities across various lending products. These include asset-based lending solutions that allow businesses to leverage existing assets like invoices, property, or machinery for financing needs ranging from £50,000 to £5 million.
Terry Wolfendale Leads Expansion Efforts in the South
In a dynamic shift towards growth, Time Finance has positioned itself as a key player in the invoice finance market. The newly appointed leader, Terry Wolfendale, brings over two decades of leadership expertise from esteemed institutions such as Lloyds Commercial Finance and RBS. His role will involve spearheading the southern sales division, driving the company’s presence in this crucial sector. Phil Chesham, managing director of invoice finance at Time Finance, expressed excitement about having someone with Wolfendale’s extensive background leading the team. Wolfendale himself echoed this sentiment, emphasizing his eagerness to contribute to Time Finance's creative and flexible approach to aiding SMEs.
With financial projections indicating a promising outlook for the 2024-2025 fiscal year, Time Finance continues to demonstrate robust trading momentum into early 2025. The company remains optimistic about meeting market expectations, supported by consistent performance through March and April.
From a journalistic perspective, this development highlights the importance of experienced leadership in guiding financial institutions through periods of rapid expansion. It underscores the value of tailored financial solutions in empowering smaller enterprises. As Time Finance embarks on this ambitious journey, it sets an example for others in the industry seeking sustainable growth while maintaining high standards of customer service.