"By no longer offering standalone unsecured loans and solely focusing on asset-based lending, we are prioritising our core strengths and ensuring that our market proposition is clear"
Ultimate Finance has announced a strategic refocus of its product portfolio which sees it withdraw from the unsecured loan market to concentrate on further investment in asset-based solutions.
The firm will now focus on its invoice finance, asset finance and bridging products, moving into bespoke structured solutions suitable for individual client needs.
Unsecured loans will no longer be provided on a standalone basis, although clients will continue to have access to cashflow loans alongside Ultimate Finance’s secured products. Ultimate Finance will continue to support and service existing unsecured loan clients until the end of their facility.
Josh Levy, CEO of Ultimate Finance, said: “We are committed to ensuring that our structure and strategy allows us to be responsive to market conditions and positioned to capitalise on our growth potential.
“By no longer offering standalone unsecured loans and solely focusing on asset-based lending, we are prioritising our core strengths and ensuring that our market proposition is clear and concentrated on our specialist areas of secured lending. We are committed to continuing to provide our clients, including those with existing unsecured loans, with high levels of service enabled by technology.
“The strength of our people and our focus on serving the funding needs of our clients in a personal and flexible manner, returned H1 growth figures that we were all proud of. Now evolution is needed to reach our long-term aspirations and to capitalise on the huge opportunity in front of us.”