Ultimate Finance reaches £14m milestone in funding to construction businesses
A year of significant growth for SME lender
Ultimate Finance Group, a leading independent provider of finance to UK business, has now provided £14m of funding to SMEs through its Construction Finance product. This represents year-on-year growth of 75%, as of April 2017. In total, Ultimate Finance Group’s overall lending to SMEs is now £132 million, as it continues its commitment to invest in business growth in the UK.
“The construction industry faces a number of challenges, not least a weak pound, skilled labour shortages and managing the costs of raw materials,” Martin Bennison, Managing Director of Construction Finance at Ultimate Finance, commented. “Despite this, these figures prove that our customers are confident in accessing funds, and are positive about their future.”
This follows a record 2016 for Ultimate Finance, which saw a 23% increase in overall lending, 16% increase in client base, and an expansion of its national footprint with new offices in Leeds, Edinburgh and Manchester.
“Irrespective of industry or size, SMEs need fast, flexible and fair cashflow solutions that supports good working capital and allows them to grow and, as importantly, let’s them get a good night’s sleep knowing that the wages will be paid,” added Bennison. “As an independent business ourselves we know that one day you have money in the bank and the next a big bill can change everything. Our growth over the past year reflects the investment we have made in our portfolio of products, and the insight we are able to bring to our offering.”
Ultimate Finance’s Construction Finance product is uniquely tailored to meet the specific requirements of businesses in the sector, allowing access to money that is tied up in lengthy construction contracts.
Backed by the Tavistock Group, Ultimate Finance is in a unique position to be able to access funding for its customers without reliance on banks or the markets.
For further information, please visit www.ultimatefinance.com
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