UTB Asset Finance breaches £1bn of lending

The lender said that this comes off the back of strong performance over the past few years, with 2022 being the third year of record-breaking originations.

UTB said that new asset finance lending in 2022 grew by 42 per cent year-on-year and its loan book grew by over half.

The company said that last year, the funder had integrated a technology platform into its asset finance operations and maintained high volumes of lending.

Nathan Mollett (pictured), head of asset finance at UTB, commented: “This is a significant milestone for UTB’s Asset Finance business achieved by supporting SMEs as they overcome the challenges of an unpredictable economy shaken by high inflation and the war in Ukraine.

“Despite the uncertainty, we have continued to lend to SMEs throughout, and our outstanding team has helping thousands of businesses seize opportunities and invest in their futures.”

He added that in spite of its loan book growing by over half it had “maintained our ‘boutique’ approach to lending where communication with brokers is our key differentiator”.

“We highly value our brokers’ input and their dedication to securing the right solution and outcome for the customer and would like to thank them for their continued support.

“With ambitious plans for the future, our new technology platform already delivering real benefits, and the best Asset Finance team in the business, I don’t think it will be long before we lend our next billion,” Mollett added.