Specialist asset-based lender Ultimate Finance secured £370 million in wholesale funding for the next three years, a combination of new and extended facilities. The news follows the recent announcement of its highest-ever six-month period for new business origination.
“I am delighted that we have secured increased facilities across our full product range which includes working capital, asset finance and bridging finance,” Neil McMyn, chief financial officer at Ultimate Finance, said. “This has been a key objective for us and comes on the back of our impressive growth journey and loan book performance. We have always benefited from a deep capital base as part of the Tavistock Group and are proud of the strong relationship we have developed with our wholesale funders, which has allowed us to provide a substantial level of funding to support nearly 4,000 businesses and property investors across the UK.”
“These new and extended facilities with Lloyds Bank and NatWest will give us an increased funding capacity to continue to be a key player in the specialist asset-based lending market.” McMyn said. “It marks the end of six-months of intense work, and I would like to thank the Ultimate Finance team for their hard work and dedication in achieving this exciting milestone for our business. I would also like to express my thanks to the teams at Lloyds Bank and NatWest for their continued support in our mission to become the funding partner of choice.”
