Specialist asset-based lender Ultimate Finance has reported a record-breaking year in 2024, achieving new business milestones and significant growth across its lending portfolio. The company reached a record loan book of £342 million, with new business origination up by 11% year-on-year.
Ultimate Finance, known for supporting UK businesses with tailored funding solutions, celebrated several key achievements in 2024:
- Record Loan Book Growth: The total loan book reached £342 million, including milestones of £100 million for both Asset Finance and Bridging Finance. The average loan book size also grew by 14%.
- Increased New Facilities: The lender provided £183 million in new facilities, an 11% increase from 2023. This included £80 million in Bridging Finance, £58 million in Asset Finance, and £44 million in Working Capital solutions, reflecting growth across all product lines.
- Enhanced Offerings: New product innovations included three-year cashflow loans of up to £500,000 and expanded Asset Finance facilities with terms up to seven years and larger balloon payments. The company also hinted at exciting developments in Bridging Finance, building on its success in winning the Specialist Product of the Year award at the 2024 Bridging and Commercial Awards.
The company’s customer service metrics remain strong, with an industry-leading TrustPilot score of 4.9 out of 5 and an eight-year average client life for Working Capital customers.
Driving Growth Through Investment
Josh Levy, CEO of Ultimate Finance, credited the company’s growth to strategic investments in people and capabilities. “Our focus in 2024 was to drive growth in our business by having all areas of the business firing together to deliver on our mission to lend more money than ever to UK businesses,” Levy said. “Our record loan book of £342 million and 11% increase in new business origination demonstrates that we are successfully delivering on our strategy.”
Levy also highlighted the addition of several new hires, with six colleagues joining in January 2025 to expand the company’s regional footprint. The lender secured £370 million in wholesale funding for the next three years, ensuring a solid platform for continued growth.
Looking Ahead to 2025
As the UK prepares for economic changes under a new Labour government, Levy emphasized the importance of robust funding structures to address upcoming challenges, including increased Employers National Insurance contributions. “Now is the time to ensure businesses are prepared for the challenges ahead and to put the right funding structure in place before any of these impacts hit,” Levy advised.
With an average Working Capital client retention of eight years and a commitment to tailored, high-quality service, Ultimate Finance aims to strengthen its position as the “Funding Partner of Choice” for UK businesses in 2025.
