Despite the challenging conditions following Brexit, the lender has managed to exceed the landmark with the figure 30% higher than last year.

Ultimate Finance also reported that it has seen its client numbers rise by over 24% with its construction finance team seeing a 67% growth jump.

“This growth is all the more remarkable given the somewhat unfavourable environment and the fact that parts of our market are pretty flat at the moment – many of our competitors are struggling, or going backwards,” said Richard Waldman, group sales director of Ultimate Finance.

“The excellent figures show we’re very much on track.”

Richard confirmed that Ultimate Finance had a number of projects in progress that would propel the business forward.

“We have a number of exciting new products in development, we’re re-energising the branding and marketing, we’re upgrading our offices and adding additional ones. 

“We’re also investing heavily in staff training and in attracting fresh talent to create what everyone in the industry will come to recognise as the A Team.”

Richard concluded by confirming Ultimate Finance’s position as the Brexit saga unfolds.

“The fact we are owned by Tavistock [the international private investment organisation] gives us direct access to plentiful funds. 

“This is likely to prove very important as the Brexit saga unfolds. 

“How the process of untangling the country from the single market will impact the money markets is anybody’s guess, but Ultimate’s status means that our ability to lend won’t be compromised. 

“Come what may we’ll be able to offer Britain’s SMEs the support they need.”