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Ultimate Finance reports over £1.9bn funding in 2021

  • 11/01/2022
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Ultimate Finance reports over £1.9bn funding in 2021
Asset-based lender Ultimate Finance provided over £1.9bn of funding to UK SMEs in 2021, its highest ever total of funding advanced in its 20-year history.

The company grew its loan book to a high of £28m, an increase of £40m compared to 2020.

This was partially driven by record-high loan books in asset finance and bridging finance of over £75m apiece.

It also provided £125m of funding through 1,300 facilities, with £46m in new business for asset finance reported, another high for the lender.

It said its working capital products had performed strongly, with record levels of invoicing, strong client retention and loan book recovery returning to pre-pandemic levels.

Ultimate Finance also reported £220m of new wholesale funding facilities in recent months, which it said put the company in a “strong position” to support SMEs in 2022.

Josh Levy (pictured), chief executive of Ultimate Finance said 2021 was a “transformational year” for the company as it beat new business records and set highs for loan book figures at a group and product level.

He added that it had provided funding to over 3,000 SMEs and looked forward to “more of the same” in 2022.

Levy said: “We will continue to focus on providing value-add lending solutions and being recognised as a leading SME lender in each of our product areas, with best-in-class technology-enabled personal service to clients and introducers as our differentiator to create long lasting, meaningful relationships.”

He continued that this year also marked the lender’s 20th anniversary, with over £10bn of funding completed in that time.

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