Ultimate Finance reports record lending in 2022 at over £2bn

According to the lender, this is up 11 per cent on 2021, where total advances came to around £1.9bn in 2021.

It includes funding provided on a revolving basis through invoice financing facilities, along with £126m in new facilities.

The firm added that its loan book had reached £283m.

Ultimate Finance noted that new business for asset finance also grew 11 per cent to £51m and its loan book grew by 16 per cent.

The company added that its strong working capital for new business increased 26 per cent against the previous year.

New business for bridging finance in the latter half of the year also rose 87 per cent on the same period to 2021 and it reported a record month in December.

Ultimate Finance: ‘Accelerating origination levels’

Josh Levy (pictured), CEO of Ultimate Finance, said that 2022 was its 20th anniversary and it was proud to have supported over 3,000 businesses with “tailored funding facilities”.

He added: “These record performances across all areas of our business are a demonstration that our strategy continues to deliver strong results and we remain committed to supporting the ambitions of SMEs and property investors through the challenges ahead.”

Levy noted that SMEs were usually the first to experience difficulties accessing finance during economic volatility, but also disproportionately on external finance for cashflow and investment opportunities.

“Against a backdrop of rising interest rates, inflationary pressures and the cost of living crisis, we have continued to accelerate our origination levels at a time when credit conditions elsewhere have been tightening.

“Our strong capital base, growing and robust loan book, relationship driven approach to funding, and partnerships with our key introducer network will ensure we fund even more businesses in 2023 and make it another successful year for Ultimate Finance,” he concluded.