Ultimate Finance

Ultimate Finance posts record lending levels in May

Ultimate Finance has reported its highest ever month for bridging and asset finance in May, which saw its strongest monthly performance for working capital finance since before the pandemic.

The specialist asset-based lender delivered over £30m of new funding to businesses last month, with overall funds in use at over £270m for the first time.

“In comparison to the first five months of 2020, we’ve seen an uplift of 71% of new funds being utilised by our clients, which is a clear sign that the economic recovery phase of the pandemic is very much underway,” said Josh Levy, CEO at Ultimate Finance (pictured above).

“I am very proud that we have supported so many businesses with our lending solutions and will continue to do so in the months ahead following the end of the government’s support through CBILS.” 

Some of the transactions Ultimate Finance has completed throughout May include a £1.8m bridging loan to a property developer, which required the funds to repay an existing facility for a development delayed by Covid-19 and to generate additional funding for other projects.

The finance provider also completed a £950,000 facility to support the acquisition of an established international logistics business. 

“Providing excellent customer service is at the heart of our mission to be the funding partner of choice, and the team continue to work tirelessly to deliver ongoing support to our clients and introducers,” Josh added.

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