- 1pm plc, the AIM-quoted specialist independent provider of finance facilities to the SME sector, has negotiated additional Block Discounting Facilities totalling £2.5m, comprising a new £2m facility and an increase of £0.5m to an existing facility.

"This additional funding will be used exclusively for the purpose of writing new business," the company said in a statement. The loan terms were consistent with those of other funders to the company.

"The Board is also pleased to report that trading during the first quarter of calendar 2014 has been very positive," it said.

"Furthermore due to the success of the recently introduced business loan product, the amount available for individual loans is to be increased from £15,000 to £25,000."

At 8:00am: [LON:OPM] 1pm PLC share price was +1.25p at 61p

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