Ron Robson

Ultimate Finance reports 260% bridging growth

Ultimate Finance has announced that its bridging finance lending increased by 260% year-on-year during the first half of 2018, with almost £30m of funds in use.

The number of bridging finance clients receiving funds from the lender increased by 86%.

The announcement comes after Ultimate Finance reported it was absorbing all products and services sitting under Ashley Finance in June.

The SME lender reached a new lending milestone as it made almost £200m available to SMEs across the UK.

Figures from the first half of the year also showed a 42.3% increase in cash to customers for the alternative finance specialist.

Asset finance lending increased by 61% – surpassing the £40m mark for the first time – while invoice finance lending grew by 27.5%.

“We have a very simple mantra at Ultimate Finance: businesses need cash in a fast, flexible and fair way,” said Ron Robson, CEO at Ultimate Finance (pictured above). 

“In a market that is often made overly complex with unnecessary jargon and confusing fee structures, our continued growth is testament to our uncomplicated approach to supporting SMEs.”

Ultimate Finance also announced that it had brought NatWest into its back-to-back syndicated invoice finance facility, alongside renewed commitments from Lloyds Bank and British Business Investments.

This provides an additional £40m in funding, taking the total facility to £125m, which complements its parent company Tavistock’s investment of over £100m to date. 

“As a company, we are focused on making the customer journey as easy as it can be, by investing in customer service and technology to provide more access to cash than ever before to thriving businesses across the country,” added Ron.

“As we enter the next phase of our own journey, we look forward to a strong second half of the year.”

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