Time Finance Moves into Materials Handling Following Sector Expert Appointment
Independent lender to the SME market, Time Finance, is set to expand into the materials handling market with the launch of a specialist team headed up by newly appointed regional sales manager, Phil Blea.
Aimed at expanding Time Finance’s Asset Finance solutions into new markets, the materials handling team will see the specialist SME funder provide finance for heavy machinery and tools for equipment-intensive industries such as manufacturers and material storage firms.
The sector expansion follows the appointment of Phil Blea as regional sales manager in Time Finance’s Asset Finance division, with a remit specifically focused on the funder’s growth into the material handling sector.
Phil is now establishing Time Finance’s offering, introducing a finance solution to support customers across a broad credit spectrum, including those with more complex credit histories.
Joining Time Finance, Phil has brought a wealth of experience in the asset-lending and vendor finance markets, working previously for the likes of Close Brothers and Linde, and will contribute to the expansion of the business’ hard asset portfolio.
Launching its presence in the materials handling sector directly feeds into Time Finance’s growth strategy as it looks to expand its own book lending to £300m+ over the next three years. This activity recently saw Time Finance report a record own lending figure, which reached £217m in the year ending 31 May 2025.
Steve Nichols, managing director of Asset Finance at Time Finance, commented: “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.”
Phil Blea, regional sales manager at Time Finance, added: “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 3-year growth strategy and I’m looking forward to helping build our presence in the market.”