Bristol-based factoring specialist Ultimate has linked up with the Finance South East (FSE) Group to give more funding options to ambitious SMEs seeking finance to grow their business.
The tie-up will combine cashflow lending products such as factoring and invoice discounting with the provision of complementary loan products currently offered by the FSE Group.
Last year the group, which has £33.6m of funds under management, invested more than £9.3m in high-growth SMEs. It administers a range of grant, institutional and angel equity, mezzanine loan and bespoke commercialisation support schemes on behalf of both public and private sector stakeholders.
Ultimate customers will benefit from dealing with only one provider, cutting out unnecessary meetings and time-consuming credit applications.
Ultimate finance sales and marketing director Kevan Jones said: “Time and again it has been shown that invoice finance is an excellent way for SMEs to fund their growth. Combine that with FSE’s knowledge and wider support for SMEs and you have something exceptional that Ultimate very much welcomes being part of.”
The preferred supplier partnership meant that existing and new clients can take advantage of a more extensive and tailored offering of funding products from the FSE Group, he said.
Sally Goodsell, FSE Group chief executive added: “Factoring and invoice discounting can provide businesses with an additional means to improve cash flow. This is a new offering for FSE and we are delighted to be able to offer our clients more options that will help them to achieve their growth plans during this time of ongoing financial uncertainty.”
Factoring and invoice discounting are often used by small and fast-growing businesses to boost cashflow and improve their bottom line.
