A Bristol-based financial services company has reported a "year of record lending" for 2023.
Ultimate Finance, a specialist asset-based lender headquartered in Bradley Stoke, said it reached a new milestone in its loan book of over £310m, a 10% growth on 2022. The lender provided funding of more than £2.1bn to UK SMEs and property investors in 2023.
The asset-based lender's portfolio added that it provided £165m of new facilities, up 31% on 2022 and recorded "another record year" for asset finance with 14% growth in the loan book reaching £98m, and new origination up 11% on 2022.
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Josh Levy, chief executive of Ultimate Finance, said: “We set out to be the Funding Partner of Choice to our Introducers and Clients when we reset our strategy in 2019, focused on delivering flexible asset-based lending solutions through a high-quality personalised service model.
"This strategy has delivered more than £7.5bn total funding over the last 4 years and I’m immensely proud of the team, as we continue to provide funding to an increasing number of businesses and property investors throughout the UK, helping them to realise their ambitions."
Mr Levy added: "Going into 2024, our focus remains on managing the balance of risk and opportunity in volatile market conditions, and with a General Election on the horizon, we will stay consistent in our appetite and ambition. Some businesses understandably remain cautious in light of elevated interest rates and uncertainty, but we are confident that sentiment will continue to improve and trading conditions for many will get easier as inflation falls away.
"Our strong capital base, growing and robust loan book, relationship driven approach to funding, and partnerships with our key Introducer network will ensure we fund even more businesses in 2024 and make it another successful year for Ultimate Finance.”
