Ultimate Finance said this was an increase from an initial level of £100m and came after a “strong start to 2025 and continued growth in its asset finance loan book”.
The firm said there had been an “acceleration in origination growth” in 2025, with £32m of asset finance facilities provided to businesses via “hire purchases, finance lease of refinance solutions”.
Neil McMyn, CFO of Ultimate Finance, said: “Comparing the first quarters of 2025 and 2024, asset finance origination was up 70% and the momentum is continuing into the second quarter, with strong support from our key introducer and broker networks powering our asset finance loan book above £120m for the first time.
“This facility increase further extends the long-standing relationship we have with Lloyds and our ability to provide even more funding and investment capital to SMEs throughout the UK.”
Andrew Scott, director at Lloyds, said: “Lloyds is committed to providing securitised funding to the SME sector, and we are proud not only to provide this additional funding to Ultimate Finance, but also to support the company as it continues to deliver on its growth ambitions.”
How to get your first-time buyer clients mortgage ready
Sponsored by Halifax Intermediaries
Last year, Ultimate Finance secured around £370m in wholesale funding for the next three years. It was a combination of new and extended facilities and meant it was in a “strong position to drive further growth”.
The lender also reported a record-high loan book of £342m in 2024, with strong business across its three products.
