The SME finance provider reported a 35% rise with regard to funds in use and a 14% increase in the size of the business’s client base.

Ultimate Finance announced that its bridging finance loans now stood at £31m – a year-on-year rise of 115%, while its asset finance lending had grown by 37%, with a loan book of £46m as of December 2018.

In addition, it reported that invoice finance had witnessed a 24% growth over the last 12 months, with funds in use of £117m.

Ron Robson, CEO at Ultimate Finance (pictured above), said that it took pride in being an ally to SMEs throughout the UK.

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“This is why I’m so proud to see such significant growth yet again, not only in the number of businesses we’re supporting, but the amount of good funding we’re providing to enable business owners to kick-start further growth.

“This will also help to remove many of the pressures they face day to day.

“With the new year well underway, we’re looking ahead to the next 12 months and despite the ongoing uncertainty surrounding Brexit, we remain committed to delivering another year of strong support in 2019 while continuously improving our customer service levels at every turn.”

Ultimate Finance has also agreed a new £60m asset finance facility with HSBC.

This comes after the SME finance provider secured a deal to bring RBS into its invoice finance back-to-back facility, resulting in an additional £40m in funding.