Ultimate Finance provides over £1.6bn of funding to SMEs in 2019
Ultimate Finance, which has offices in Edinburgh and Glasgow, has provided more than £1.6 billion of funding to SMEs across the UK in 2019.
Newly released figures show that Ultimate Finance finished the year with a record high loan book of £265 million. Further growth in the size of the company’s client base means Ultimate Finance ended the year supporting more companies than ever.
This growth is on the back of continued focus on strengthening relationships with introducers across the UK and another year of strong development of Ultimate Finance’s asset-based lending portfolio.
- The average size of Invoice Finance deals more than doubling with facilities of up to £5m
- Asset Finance hitting a new annual high, with the loan book exceeding £55m
- The Bridging Finance loan book growing close to £40m, an exceptional year-on-year increase of 23.5%
Josh Levy, CEO at Ultimate Finance, said: “Ultimate Finance has prospered in 2019 against the backdrop of an unsettled year for many UK businesses. Uncertainty surrounding Brexit and the general election were contributing factors to business investment falling in five of the last six quarters, however it is encouraging to see business confidence returning.
“In this context, I’m proud to announce another record-breaking year of lending for Ultimate Finance with over 1,000 new businesses supported by our funding solutions.
“Our continued growth mirrors a trend of businesses becoming simultaneously more comfortable with alternative finance providers and moving away from traditional banks. This trend, along with the investment in developing our introducer relationships, present us with a big opportunity for 2020 to continue supporting more businesses around the UK.”