Ultimate Finance increases max structured finance limit to £10m

This is up from £7.5m previously, and the maximum deal size will help meet a market gap for sub-£10m multi-asset SME lending, according to the lender. It added that SME funding sources “remained hard to come by”. 

Structured finance funding can be secured against assets such as receivables, plant and machinery and property, and additional cashflow finance can be secured.

Ultimate Finance said it had already supported over 50 SMEs with their growth ambitions.

It said borrowing against different balance sheet assets through structured finance solutions would enable additional funding to be generated for growth and expansion, merger and acquisition activity, turnaround situations, restructuring events, and shareholder exits.

Ultimate Finance said it planned to continue expanding its market presence after a strong year last year with total funding advances of £1.9bn.

The lender has also increased its maximum facility sizes across all products including invoice finance from £5m to £7m, asset finance from £1m to £1.5m, bridging finance from £2.5m to £3m and cashflow loans increased to £1.5m.

Josh Levy (pictured), chief executive at Ultimate Finance, said: “We remain focused on ensuring we stay true to the four key aspects of our structured finance proposition – speed, flexibility, simplicity and personal service.

“Our approach eliminates the traditional complexity of applying for and managing multiple funding products and prioritises the needs of our clients and introducers.”

He added: “We believe that increasing our maximum facility size will allow us to support the ambitions of even more SMEs with flexible working capital solutions and our approach to providing our clients with a dedicated relationship manager ensures they can fully utilise their facility to deliver on those ambitions.”

Nick Haggitt, sales director at Ultimate Finance, said: “With our increased facility size of £10m we are in a strong position to support more businesses, working in partnership with our introducers, and we have proven that our dedicated deal team approach can quickly and flexibly deliver essential funding to businesses, whether the requirement is event-driven or for general growth purposes.”