Lender reports record new business in 2024 as it prepares to accelerate growth

Josh Levy

Asset-based lender, Ultimate Finance, has reported a record high loan book of £342m and strong new business across all three of its products during 2024.

The business, which has a base in Leeds, recorded a growth in its average loan book size of 14% and £100m loan book milestones reached for the first time in both Asset Finance and Bridging Finance.

It provided £183m worth of new facilities, up 11% on 2023, split between £80m Bridging Finance, £58m Asset Finance and £44m Working Capital.

Josh Levy, CEO, said: “Our focus in 2024 was to drive growth in our business by having all areas of the business firing together to deliver on our mission to lend more money than ever to UK businesses.

“This has only been possible because of the investment we have made in developing our market leading capabilities to ensure we are easy to deal with and to get funding out to SMEs as quickly as possible.

“Our record loan book of £342m and 11% increase in new business origination demonstrates that we are successfully delivering on our strategy.

“We also secured £370m of wholesale funding for the next three years through a combination of new and extended facilities which provides the platform for us to continue our ambitious growth.”

Ultimate Finance says it has also taken on six new staff members in the first week of January, who will expand the lender’s regional footprint and enable it to serve even more clients.

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