The lender provided a £150,000 funding line to the firm after the start-up secured contracts to be the sole UK distributor for certain American breweries.

The funding was required as the firm needed some working capital to get things going.

This deal comes as Ultimate Finance celebrated a record month in September for its asset finance division and achieved a new record in terms of the number of invoice finance deals paid out in one day.

In total, Ultimate Finance has supported UK SMEs with £115m of funding.

Another loan Ultimate Finance provided was £500,000 of construction finance to an interior design firm who had been trading for over 25 years.

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The firm, with a turnover of £7m, had recently secured a large, new contract with a housing contractor that would have stretched their working capital.

The £500,000 facility meant that their applications for payment would be funded straight away meaning cash flow would keep up with the progress on the site.

Ultimate Finance also completed a finance deal – a £200,000 purchase finance facility for a retailer.

The retailer purchases its stock from China and sells it on to the public and larger outlets such as Tesco and Amazon.

With fast turnaround times for their stock, it was already planning its Christmas orders.

The £200,000 loan ensured that it has enough stock to see them through the busy period without seriously depleting its cash reserves.