Specialist asset-based lender Ultimate Finance has revealed that it provided over £62m ($81.27m) in new funding facilities in the first quarter (Q1) of 2025.

In the first three months of the year, the company provided more than 500 new facilities across its range of financial solutions, which includes asset finance, working capital and bridging finance.

The company said that asset finance alone hit a record monthly high exceeding £10m.

Ultimate Finance CEO Josh Levy said: “Our ambition has been to drive growth in our business by having all areas firing together to deliver on our mission to lend more money than ever to UK businesses and I’m delighted to report that in Q1 we have continued to outperform our growth targets through the hard work and dedication of the entire Ultimate Finance team.

“Despite the challenging political and economic landscape on the back of the US elections and the UK Autumn 2024 budget, our lending appetite remains unchanged, and we will continue to work with our valued introducer network to ensure our products and service standards meet market demand.” 

Levy said that the firm strengthened its regional presence with the appointment of Alex Russon as regional director for Scotland.

He adds: “Our continued commitment to delivering tailored asset-based lending solutions through a high-quality personalised service model means we remain well placed to support the investment ambitions and cashflow challenges of UK businesses for the rest of 2025 and beyond.”

Earlier this year, Ultimate Finance said it achieved a record-high loan book valued at £342m in 2024.

The growth was propelled by an 11% increase in new business across its three main product lines, with the company noting a 14% growth in its average loan book size.

For 2024, the company provided a record £183m in new facilities, marking an 11% rise from the previous year. The distribution of this funding included £80m in bridging finance, £58m in asset finance, and £44m in working capital solutions.

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