SME funding partner delivers record performance by providing more than £1.9bn of funding in 2021
Specialist asset-based lender Ultimate Finance provided funding of more than £1.9bn to UK SMEs in 2021, with over 1,300 new facilities to help keep business moving.
During a time when businesses still felt the effects of Covid-19, the lender has remained committed to providing access to cashflow and funding solutions, resulting in strong growth of its loan book to a record high of £280m.
The newly released figures show that Ultimate Finance finished the year with multiple record performances in key areas of the business which, along with £220m of new wholesale funding facilities recently announced, puts the funder in a strong position to support SMEs with their growth plans in 2022.
The asset-based lender’s portfolio highlights include:
- Providing new funding of £125m through over 1,300 new facilities, including a record annual performance for new business in Asset Finance of £46m
- Delivering their highest ever total funding advances to clients of £1.9bn
- Loan book growth hitting a record high of £280m, up £40m on 2020’s close
- Reaching new record high loan books in asset finance and bridging finance, both over £75m
- Strong client performance across its working capital products, with record levels of invoicing, high client retention and a loan book recovery back to pre-Covid levels
Josh Levy, CEO of Ultimate Finance said, “2021 was a transformational year for Ultimate Finance, regularly beating new business records and setting new high loan book figures at a Group and product level. We are proud to work with our valued introducer partners to provide the funding that over 3,000 SMEs need to keep their business moving and look forward to more of the same in 2022.
We will continue to focus on providing value-add lending solutions and being recognised as a leading SME lender in each of our product areas, with best-in-class technology-enabled personal service to clients and introducers as our differentiator to create long lasting, meaningful relationships.
Our achievements in 2021 have been the output of significant hard work from everyone at Ultimate Finance. This year marks our 20th birthday with over £10bn of funding delivered for SMEs in this time. Having secured £220m of new wholesale funding facilities in recent months, we have the firepower, appetite and desire to support even more SMEs with the asset-based lending solutions they need to navigate the many challenges and opportunities that lie ahead.”