• Swindon & Wiltshire Professional services
• Monday July 15 2024
• Author Name: Peter Davison

Strong half-year performance for lender Ultimate Finance

Bristol-based asset-based lender Ultimate Finance has recorded its highest half-year new business origination.

The lender approved £109 million of new facilities in the first six months of 2024, up 44 per cent on the same period last year.

And its total loan book was 14 per cent higher than the year-end close in December 2023.

Its H1 origination was split between £52 million in bridging finance, £29 million in asset finance, and £28 million in working capital.

CEO Josh Levy said: “The milestones we have reached are meaningful as we look to build a diversified asset-based lending business with each of our product lines providing both quality and scale.

“We are proud to work in partnership with our introducers and brokers to support the ambitions of SMEs and property investors across the UK and have welcomed dozens of new members to our team in the last 12 months to enable continued growth.

“Our clients – and therefore our loan book – continue to perform well despite tough trading conditions in many sectors.

“With political certainty and stability now set post-election, and inflation levels much reduced, we hope to see the first interest rate cuts delivered in the coming months to act as a further catalyst for business confidence and investment.