Specialist lender Ultimate Finance has extended its £60m asset finance wholesale funding facility with HSBC to 2024.
The facility will give the lender flexibility to grow the number of SMEs it can support with its asset finance product.
Ultimate Finance has provided over £45m of asset finance funding to businesses in 2021, which is up 20 per cent on 2020.
It has also increased the maximum facility size from £1m to £1.5m.
Neil McMyn, chief financial officer at Ultimate Finance, said: “We’ve enjoyed a strong relationship with HSBC and extending our asset finance wholesale funding facility through to 2024 puts us in an enviable position in our market, to drive growth in our loan book through increased lending to SMEs going into 2022.”
Oke Uwakwe, director of structured finance at HSBC, added: “HSBC is pleased to be able to extend this funding facility to allow Ultimate Finance to continue supporting UK SMEs through the economic cycle.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
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