Ultimate Finance, the Bristol-based specialist asset-based lender, is looking to further grow its loan book after securing £370m in wholesale funding for the next three years.
The firm, owned US private investment firm Tavistock Group, said the new funding would also allow it to diversify its asset-based lending business with new products. 
The new move follows hot on the heels of the firm enjoying its highest-ever six-month period for new business origination, which it credited to what it called an “unwavering commitment to supporting UK SMEs with access to much needed cashflow and investment capital”.
Ultimate, which has its head office at Bradley Stoke, has supported nearly 4,000 businesses and property investors across the UK since it was launched more than 21 years ago.
Its new and extended facilities, which include working capital, asset finance and bridging finance, have been secured with Lloyds Bank and NatWest and were the result of a six months of negotiations.
Ultimate Finance CFO Neil McMyn 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.
“These new and extended facilities will give us an increased funding capacity to continue to be a key player in the specialist asset-based lending market.”
Ultimate Finance provided £109m of new facilities in the first six months of this year - its highest ever six-month figure for new business origination and up 44% on the same period last year.
In addition, its total loan book was 14% higher than its year-end close in December 2023, growing to £340m. It also reached a £100m loan book milestone for both asset finance and bridging finance during the first half.
Ultimate Finance, which was acquired by Tavistock Group eight years ago, offer a range of funding packages tailored to meet the cashflow needs of UK SMEs. It supports clients throughout the UK and across a wide range of industries, sectors and stages of growth.
