• Swindon & Wiltshire News
• Friday January 13 2023
• Author Name: Peter Davison

Ultimate Finance announces record lending for 2022

Specialist asset-based lender Ultimate Finance provided funding of more than £2.1 billion to UK SMEs in 2022, with over 1,200 new facilities to help keep business moving.

During a time when the business, political and economic landscapes continued to be turbulent, the Bristol-based lender remained committed to providing access to liquidity and funding solutions, resulting in growth in its loan book to a record high of £283 million.

The newly released figures show Ultimate Finance finished the year with a continuation of record performances whilst delivering on their ambition to support an increasing number of businesses with funding and puts the lender in a strong position going into 2023.

The asset-based lender’s portfolio highlights include:

• Delivering their highest ever total funding advances to clients of £2.1bn, which is 11 per cent higher than 2021
• Reaching a record total loan book of £283m and providing over £125m in new funding during 2022
• A record year for Asset Finance with new business up 11 per cent to £51m and 16 per cent loan book growth
• Strong Working Capital new business growth of 26 per cent compared to 2021 and continued market-leading customer service metrics
• A positive recovery in Bridging Finance new business volumes during H2, up 87 per cent on the same period in 2021 and a record month in December

Josh Levy, CEO of Ultimate Finance, said “2022 marked our 20th anniversary and we are proud to have supported over 3,000 businesses with tailored funding facilities.

“These record performances across all areas of our business are a demonstration that our strategy continues to deliver strong results and we remain committed to supporting the ambitions of SMEs and property investors through the challenges ahead.

“SMEs are the first to experience difficulties accessing finance during times of economic volatility, yet by virtue of their size rely disproportionately on external finance for cashflow and investment opportunities.

“Against a backdrop of rising interest rates, inflationary pressures and the cost of living crisis, we have continued to accelerate our origination levels at a time when credit conditions elsewhere have been tightening.

“Our strong capital base, growing and robust loan book, relationship driven approach to funding, and partnerships with our key introducer network will ensure we fund even more businesses in 2023 and make it another successful year for Ultimate Finance. “