Asset finance lending hit a record high of £27m in the quarter, while working capital facilities and bridging finance hit values of £18m and £27m respectively.
Following the strong start to the year, the asset-based lender’s loan book now stands at a record value of £413m, with plans for organisational changes to further strengthen its product strategy and support growth across the group.
Leadership changes
Alongside its Q1 trading update, the lender announced that group sales director Andrew Ribbins will retire at the end of the month following 16 years with the business.
Ribbins established the group’s asset finance proposition in 2010 and later played a key role in strengthening sales performance across the group.
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Josh Levy (pictured), chief executive of Ultimate Finance, said: “I want to recognise Andrew’s immense contribution to Ultimate Finance. Over 16 years, he established our Asset Finance business and helped shape it into the strong operation it is today. His impact has been significant, and his biggest legacy will be the people he’s supported along the way.”
Simon Gregory is set to become head of asset finance, moving from his long-standing leadership of the operations team. Working alongside Paul Hansen, appointed sales director last year, they will continue to develop the lender’s asset finance proposition.
Levy added: “After a record 2025, we’ve started 2026 with strong momentum. Passing the £400m loan book milestone in Q1 is a powerful vote of confidence from the introducers who trust Ultimate Finance and a reflection of the consistent performance of our teams across asset finance, bridging finance and working capital.
“With clear product leadership in place, we’ll keep strengthening our propositions and delivery and continue backing UK businesses as they navigate a turbulent economic landscape.”
