Ultimate Finance lends over £1bn of funding to UK SMEs in H1

The value of its closing group loan book rose nine per per cent year-on-year in H1 to a record level of almost £300m.

The lender’s bridging finance division more than doubled its new business volumes and is now worth more than £50m.

Meanwhile, its asset finance arm grew business volumes by seven per cent and saw its total loan book size increase by 14 per cent.

Ultimate Finance also saw rising demand for working capital solutions. Its total loan book is now valued at over £150m with over 12 per cent of its client base benefiting from facility increases in the period

Josh Levy (pictured), chief executive of Ultimate Finance, said, “We came into this year looking to further our track record of strong performance through continued challenging market conditions. This would mean managing the balance of risks and opportunities, proving the quality and strength of our loan book, delivering further improvements to our relationship-driven service levels to clients and introducers, and continuing to grow our loan book and new business volumes.”