Ultimate Finance records double £100m lending milestone
Asset-based lender Ultimate Finance has recorded a double milestone, with both its asset and bridging loan books hitting £100m at the end of the first quarter.
It proved to be a record quarter for Ultimate Finance in general: its loan book reached £342m, up 21 per cent or £60m compared to the same period in 2023. It also provided £66m in new facilities during the quarter, which is more than double compared to the same period last year.
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“Our commitment remains strong to support the ambitions of SMEs and property investors by providing access to the liquidity and funding solutions they need,'” said chief executive Josh Levy (pictured). “We are pleased to report a strong start to 2024 and take encouragement that our strategy continues to deliver a growing market position.”
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In his opinion, the opportunity ahead is clear, with specialist lenders increasingly playing a key role.
“Last year saw challenger banks and specialist lenders with a record 59 per cent share of total lending to SMEs, the third consecutive year in which market share has been greatest away from the largest five banks,” he added.
Ultimate Finance currently supports more than 3,500 businesses with loans. It is part of international private investment company Tavistock Group.
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