Ultimate Finance reports record new business in 2024

Specialist asset-based lender Ultimate Finance has reported another landmark year, reporting a record-high loan book of £342 million in 2024 and an 11% surge in new business across its product portfolio.

The company credits its achievements to strategic investments in talent and innovative solutions aimed at meeting the diverse needs of UK businesses.

Ultimate Finance saw significant progress across its three core products—bridging finance, asset finance, and working capital—culminating in a record £183 million of new facilities provided: £80 million in bridging finance, £58 million in asset finance, and £44 million in working capital.

The company’s average loan book size grew by 14%, and both asset finance and bridging finance surpassed the £100 million loan book milestone for the first time.

Enhancements to its product suite included the introduction of 3-year cashflow loans of up to £500,000 and expanded asset finance facilities, now available up to £2 million with terms of up to 7 years.

Under CEO Josh Levy, Ultimate Finance has focused on ensuring all facets of its operations work in harmony to deliver unprecedented growth.

Levy attributed the lender’s success to its people, enhanced capabilities, and swift funding processes, saying, “Our record loan book of £342m and 11% increase in new business origination demonstrate that we are successfully delivering on our strategy.”

The company’s dedication to customer service was reflected in an industry-leading TrustPilot score of 4.9/5 and a Net Promoter Score of 73. Client relationships remain a cornerstone of their strategy, with the average Working Capital client life extending to 8 years.

Ultimate Finance has bolstered its workforce with strategic hires, adding six new team members in early January 2025 to strengthen its regional presence. The company also secured £370 million in wholesale funding for the next three years, laying the groundwork for further expansion.

Looking ahead, Levy acknowledged challenges on the horizon, including fiscal pressures from the new Labour government’s budget, particularly the increase in Employers National Insurance contributions. “Now is the time to ensure businesses are prepared for the challenges ahead and put the right funding structure in place before any of these impacts hit,” he said.

Ultimate Finance’s commitment to being the “funding partner of choice” for SMEs remains evident as Levy concludes: “Our continued commitment to delivering tailored asset-based lending solutions through a high-quality personalised service model for both our clients and valued introducer partners means we are well placed to continue to support the investment opportunities and cashflow challenges of UK businesses in 2025.”