UK-based specialist lender Time Finance has announced its entry into the materials handling sector with a dedicated team led by Phil Blea, who has been appointed as regional sales manager.

The move is part of the company’s strategy to extend its asset finance solutions to new industry segments, particularly those reliant on heavy machinery and tools such as manufacturing and material storage.

Blea’s role will focus on developing Time Finance’s presence in this market, with an emphasis on creating finance solutions that cater to a diverse range of credit profiles, including those with more complex financial backgrounds.

He brings experience in asset lending and vendor finance, having earlier worked at Close Brothers and Linde.

Time Finance expects Blea to support the growth of its hard asset offerings.

Blea said: “I am very excited to be joining Time Finance at such a crucial time. I’m thrilled to be playing a part in the company’s move into the materials handling sector and the role it will play as the business embarks on its new three-year growth strategy, and I’m looking forward to helping build our presence in the market.”

The move into the materials handling market is consistent with Time Finance’s objective to increase its lending portfolio to more than £300m over the next three years.

The company registered a “record” lending figure of £217m for the year ending 31 May 2025.

Time Finance provides various funding solutions to UK businesses, facilitating access to finance for growth initiatives.

In addition to asset finance, the company offers invoice finance, business loans, and asset-based lending.

Time Finance asset finance managing director Steve Nichols said: “Establishing our specialist materials handling team forms an integral part of our wider growth strategy.

“By developing innovative sector funding, we are tailoring our asset finance and multi-product solutions for key sectors and supporting businesses as they grow. Phil will play a pivotal role in helping us to build our presence, and I’m delighted he has decided to join the team.”

Earlier this month, Time Finance appointed Bethan Holliday as the new head of operations for its asset finance team.

“Time Finance forays into materials handling segment with new team” was originally created and published by Leasing Life, a GlobalData owned brand.

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