In a remarkable achievement, Ultimate Finance has announced an unprecedented loan book of £342 million for 2024. The asset-based lending specialist experienced substantial growth driven by increased demand across its three core offerings: bridging finance, asset finance, and working capital solutions. This milestone underscores the company's commitment to supporting UK businesses with innovative financial solutions.
The company's strategic investments in talent and capabilities have propelled its success. An 11% rise in new business activities fueled a 14% expansion in the average loan book size. Notably, Ultimate Finance surpassed the £100 million mark for the first time in both asset finance and bridging finance segments. In total, the company provided £183 million in new facilities, reflecting an 11% increase from the previous year. These funds were allocated as follows: £80 million in bridging finance, £58 million in asset finance, and £44 million in working capital.
Ultimate Finance CEO Josh Levy emphasized that the company's focus on delivering flexible and rapid funding solutions has been instrumental in achieving these results. The organization has also introduced new products, such as three-year cash flow loans up to £500,000 and expanded asset-based financing options. Additionally, the maximum asset finance facility has been raised to £2 million, with extended repayment terms and larger balloon payments. The company is gearing up for further enhancements to its bridging finance product, aiming to better serve its growing client base.
The arrival of the new Labour Government's budget plans may present challenges for UK businesses in 2025, including potential impacts on cash flow. However, Ultimate Finance remains confident in its ability to help businesses prepare for these changes. By providing robust funding structures now, the company aims to ensure its clients are well-equipped to navigate future economic shifts. This proactive approach highlights Ultimate Finance's dedication to fostering sustainable business growth and resilience in the face of uncertainty.