Ultimate Finance delivers record levels of new funding in May 2021
08 Jun 2021
Asset-based lender is helping to fund business recovery and growth from the pandemic
07 June 2021 - Specialist asset-based lender Ultimate Finance delivered over £30m of new funding to businesses in May, helping many of them through the impact of the pandemic and into recovery and growth following lockdown restrictions continuing to ease. As well as the lender hitting record new business levels, they also reported overall funds in use of over £270m for the first time.
The lender recorded the highest ever month for Bridging Finance and Asset Finance and saw the strongest monthly performance for Working Capital Finance since before the pandemic.
Josh Levy, CEO at Ultimate Finance comments “In comparison to the first 5 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. 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.”
Ultimate Finance has recently been voted SME Invoice Finance Lender of the Year, recognising their excellent customer service ethos, which sees them rated as one of the highest 5-star lenders in their sector on TrustPilot.
Sharing some of the lending stories behind the numbers, Josh Levy continues “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.”
Ultimate Finance steps in to keep business moving.
May saw Ultimate Finance complete on a Bridging loan of almost £1.8m for a property developer. Due to Covid the development had been adversely affected and had taken longer than the current funder would allow. The client used the funding to repay the existing facility and generated additional funding for their other projects.
Structured Finance deal supports logistic business acquisition plans.
Another recent highlight saw a £950,000 structured finance facility support the acquisition of an established International Logistics business. Working with the key stakeholders Ultimate Finance were able to truly understand the business operation to provide a solution that contributed to day one consideration, as well as providing a solid funding platform for the business to grow in the future.
Levy concluded “We believe in success through long-term, trusted relationships and seek to differentiate ourselves by using our solution-led multi-asset approach to provide much needed cashflow to businesses, and truly be their funding partner of choice.”