During the period, its asset finance division saw new business rise 27 per cent on last year resulting in a record high loan book of over £80m.
New business within its working capital arm rose 27 per cent, while its loan book grew by 22 per cent. Additionally, new business within bridging finance increased by 14 per cent owing to product changes.
The lender also relaunched its structured finance proposition and increased the deal size to £10m.
Josh Levy (pictured), CEO of Ultimate Finance, said: “The challenges that businesses are currently experiencing with the difficult economic climate means that access to liquidity is more important than ever.”
Levy said having the support from the right funding partner was “crucial” to businesses and insisted Ultimate Finance was “well positioned” to use its product offering to bolster firms.
He added: “This first half of the year has seen us provide funding to an increasing number of businesses whilst supporting our existing clients with the additional cashflow they need to achieve their ambitions and is testament to the strong personal relationships we build with them as their funding partner of choice.”
The lender plans to support more SMEs in the second half of the year and has recruited five regional directors to expand its reach and growth.
“We will work tirelessly alongside our introducer partners to use our combination of funding and personal service to keep business moving in the next six months and beyond,” Levy said.
