This represents year-on-year growth of 75%, as of April 2017. In total, Ultimate Finance Group’s overall lending to SMEs is now £132 million.
Martin Bennison, Managing Director of Construction Finance at Ultimate Finance, commented: “The construction industry faces a number of challenges, not least a weak pound, skilled labour shortages and managing the costs of raw materials. Despite this, these figures prove that our customers are confident in accessing funds, and are positive about their future.
“Irrespective of industry or size, SMEs need fast, flexible and fair cashflow solutions that supports good working capital and allows them to grow and, as importantly, lets them get a good night’s sleep knowing that the wages will be paid. As an independent business ourselves we know that one day you have money in the bank and the next a big bill can change everything. Our growth over the past year reflects the investment we have made in our portfolio of products, and the insight we are able to bring to our offering.”
