Ultimate Finance Group, funding partner to UK SMEs, has seen significant growth in its asset finance book, with money advanced up 65% and a 60% rise in the number of asset finance clients, from September 2016 – 2017.
The uplift in Ultimate Finance’s asset finance lending has outperformed the market, where according to figures from the Finance & Leasing Association overall asset finance lending growth stood at 6% in the 12 months to August 2017. Financing for plant & machinery and business equipment had seen the strongest growth.
Andrew Ribbins, Managing Director of Asset Finance at Ultimate Finance, commented:
“I am delighted at the phenomenal achievement of our asset finance team.”
“The success of many businesses depends on being able to invest in key assets that may be a significant outlay – asset finance helps them accomplish this in a way that supports a business to grow, as well as look after the day-to-day operations. We also offer re-financing, which many of our customers find is the perfect solution to their cashflow demands.
“More and more businesses are coming to us for our asset finance, which is in recognition of our experience and the personalised service we offer – there is no one-size-fits-all answer when it comes to SME funding. It is testament to the team, and the relationships we are building with our existing customer-base, that our annual figures are showing such a leap. ”