The lender has had a strong first half of the year, which has also seen it recruit a number of experienced industry professionals. 

Speaking exclusively to Bridging & Commercial, Richard Waldman, group sales director at Ultimate Finance (pictured above), said it hoped to continue this good progress.

“We’ve managed to attract a lot of new business and comparing 2017 with prior years, we’ve grown considerably.  

“Indeed, our bridging finance business has grown almost over 100% in the last six months, which is super – and testament to how we’ve been able to respond to a growing appetite for this product.  

“As a team, we’re really pleased with the progress we’ve made and it’s clear that our breadth of products and experience of delivering these in a professional and flexible manner has really resonated well with our clients.  

“With the growth that we’ve seen, we’ve also managed to attract a number of experienced new members to our team, which is great – and we’re searching for more.”

The lender currently provides commercial bridging loans of between £25,000 to £2m with a max LTV of 75% with interest rates from 0.95% per month. 

Ultimate also provides finance to SMEs and Richard said he has been proud of how it has delivered products and services to clients.

“Flexibility, speed of response and a good understanding of what our customers are trying to achieve are the key elements in what we do that make me most proud.  

“We’re focused on building good working relationships with our business introducers and customers, and pride ourselves on our ability to offer tailored, flexible finance to our clients.

“We do this by structuring our products to meet the particular cash flow demands of their businesses.

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“We know some of our clients have found it a challenge to find this level of flexibility from more traditional lenders.”

Upcoming plans 

Richard hopes to see Ultimate ramp its growth even further and assist more UK SMEs while it is also looking to expand its sales teams in Scotland and the South of England. 

“New products are also on the horizon as we are eager to expand the range of funding solutions that we can offer to SMEs.

“We will continue to listen to the needs of our clients and develop products which are tailored to suit the way they want to run their businesses.”

In terms of overall business hopes, Richard added: “Last year we saw a 23% increase in lending, 16% increase in client base and a 30% increase in headcount. 

“We are continuing to build on this growth and are optimistic about our future as a leading independent finance provider.”

The future of the market

Despite several recent mergers and acquisitions between SME lenders, Richard doesn’t expect to see more consolidation and expects to see more new entrants. 

“The market certainly feels more crowded than ever before.  

“Admittedly, there have been a few lenders pull out of the bridging finance space due to funding and competitive pressures, but those lenders who have money to lend and who have a great product offering which represent value for money will thrive.  

“More entrants is good to see as it gives SMEs more options and fiercer competition will ultimately lead to better, more flexible products which are competitively priced for the user.”

Richard felt lenders could attract more SMEs to alternative finance by having a product which they want.

“Deliver it well and offer the flexibility and relationship that customers value and you’re on to a winner.  

“If you can make your customers your best advocates, then they will help promote your business.” 

Looking at what he’d like to see change in the SME lending space, Richard believed the perception of external funding needed to change and said Ultimate’s research had found that almost a third of SMEs were holding back their own growth by refusing to take external finance.

“It’s important that businesses understand that seeking funding to support with cash flow is a perfectly normal part of business life which is nothing to be ashamed of. 

“In fact, funding can free up the capital needed to grow.

“Many SME owners are not aware of the multiple funding facilities and full range of options which are available to them.