Ultimate Finance, an independent asset-based lender in the UK, released a Q1/26 trading update, reporting a loan book of £413 million and confirming planned organizational changes designed to strengthen product strategy and support growth across the group.
Q1/26 highlights:
- Loan book hits a record £413 million, up 23% vs Q1/25
- A record £72 million in new facilities, up 16% vs Q1/25
- Asset finance delivers record new business of £27 million in Q1/26
- Working capital and bridging finance post strong new business of £18 million and £27 million, respectively
Ultimate Finance continues to invest in proposition development and service enhancements. The business will shortly announce updates to both its asset finance and bridging finance propositions, aimed at increasing lending capability and supporting introducers as funding needs evolve.
The group is also continuing to build its structured finance presence following last year’s proposition expansion, which included increasing facility size to £10 million and introducing a commercial property loan as part of an ABL funding package.
Ultimate Finance also confirmed that Andrew Ribbins will retire at the end of April 2026, following 16 years with the business. Andrew established the group’s asset finance offering in 2010 and later became group sales director, playing a key role in strengthening sales performance across the group.
“I want to recognise Andrew’s immense contribution to Ultimate Finance,” Josh Levy, CEO at Ultimate Finance, said. “Over 16 years he established our asset finance business and helped shape it into the strong operation it is today. His impact has been significant, and his biggest legacy will be the people he’s supported along the way.”
As part of its evolution, Ultimate Finance has implemented planned structural and leadership changes focused on fulfilling growth ambitions.
Simon Gregory will become head of asset finance, moving from his long-standing leadership of the operations team. Working alongside Paul Hansen, appointed sales director last year, they will continue to develop the lender’s asset finance proposition.
Liam Cavanagh continues as head of bridging finance, leading the development of the product suite as the team expands in line with the growing loan book. In working capital, Lawrence Wood and John Lightfoot will see their roles evolve. Wood and John will lead working capital origination, working with sales directors Michael Beer and Nick Haggitt, while Lightfoot will lead working capital portfolio management, helping maintain Ultimate Finance’s relationship-led approach.
“After a record 2025, we’ve started 2026 with strong momentum,” Levy said. “Passing the £400M loan book milestone in Q1 is a powerful vote of confidence from the introducers who trust Ultimate Finance and a reflection of the consistent performance of our teams across asset finance, bridging finance and working capital. With clear product leadership in place, we’ll keep strengthening our propositions and delivery and continue backing UK businesses as they navigate a turbulent economic landscape.”
