SME lender Ultimate Finance, with offices in Glasgow and Edinburgh, has seen lending grow 47 per cent last year to a record high.

The Bristol-based company also saw its client base grow by 32 per cent. Ultimate Loan clients increased by 78 per cent, with trade finance customers up 56 per cent.

Ron Robson, CEO of Ultimate Finance, attributed the growth to its recent expansion into new areas.

He told Insider Media: “The reason behind the investment is simple. Our team talk to small business owners on a daily basis and hear all about the problems they’re faced with. It’s been a difficult year due to political uncertainty following Brexit negotiations, which has caused market unease.

“Despite this, the number of active businesses in the UK has continued to grow and finding ways to better support them and meet their needs with new and unique products was extremely important to us.

“I think the consequential increase in lending demonstrates the team’s unwavering commitment to the small business community. The success we’ve achieved in the past 12 months is down to the exceptional hard-work and as we look to 2018, championing small businesses will remain a top priority and we hope to continue making waves in the market.”