Josh Levy

Ultimate Finance funds over £1.5bn in 2020

Ultimate Finance has announced that it provided funding of more than £1.5bn to SMEs across the UK throughout 2020, including advances to its bridging, working capital and asset finance clients.

The newly-released figures show that the lender — which supported over 1,000 new clients in 2020 — finished the year with a 66% increase in new bridging finance funding, hitting a record-high loan book of £65m, and over 30% growth in the number of new asset finance facilities, reaching another record-high loan book of £64m.

In addition, the lender provided over £35m via CBILS.

Since its launch, Ultimate Finance has lent over £10bn in funding.

Josh Levy, CEO at Ultimate Finance (pictured above), said: “We are proud to have worked with our introducers and partners to provide funding and support to clients in a year like no other. 

“Through our accreditation to CBILS, we have provided facilities to businesses who may not otherwise have been able to secure the funding they needed to keep trading through the pandemic restrictions. 

“Our team has clearly demonstrated that they can adapt to change, while continuing to deliver outstanding service, and I am confident that, as businesses navigate 2021, we will continue to do so. 

“We are proud of the high-service standards we have maintained, despite the many challenges, and will continue to strive for improvements in the areas that matter most to our introducers and clients — speed, flexibility, and the quality of our personal service-enabled by technology.”

He added that access to liquidity would remain a problem for SMEs and that, while the various government support schemes had helped mitigate the impact of reduced income and pressured cashflow, Ultimate Finance was committed to playing a vital role in providing the working capital needed to support the ambitions and recovery of many SMEs. 

“We believe our core funding solutions of invoice, asset and bridging finance are extremely valuable tools to support businesses through this year and beyond “

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