"Despite the ongoing uncertainty surrounding Brexit we remain committed to delivering another year of strong support"
Ultimate Finance has announced a new £60m asset finance facility with HSBC.
The new facility follows a recent deal to bring RBS into its invoice finance back-to-back facility, resulting in an additional £40m in funding, alongside partnerships with YENA and NMBS.
Ultimate Finance has also reported record-breaking lending over 2018, providing funds of more than £1.4bn to SMEs. The figures from December 2018 show a 35% growth of funds in use and a 14% increase in the size of the business’ client base.
According to the lender's figures, bridging finance saw a year-on-year rise of 115%, asset finance has grown by 37% and invoice finance has seen growth of 24%.
Ron Robson, CEO at Ultimate Finance, said: “At Ultimate Finance, we pride ourselves on being an ally to SMEs throughout the UK, offering the flexible financial support they need to survive and thrive regardless of what’s thrown at them.
“This is why I’m so proud to see such significant growth yet again, not only in the number of businesses we’re supporting, but the amount of good funding we’re providing to enable business owners to kick-start further growth. This will also help to remove many of the pressures they face day-to-day.
“With the new year well underway, we’re looking ahead to the next 12 months and despite the ongoing uncertainty surrounding Brexit we remain committed to delivering another year of strong support in 2019 while continuously improving our customer service levels at every turn.”