The specialist lender, which is part of private investment firm Tavistock Group, provided £109m of new facilities in H1 2024, increasing its loan book by 14% to £340m.

The completions included £52m of bridging finance, £29m of asset finance, and £28m of working capital.

The business hit a number of milestones during the first half of the year, including reaching a £100m loan book for both its asset finance and bridging finance propositions, and nearing 4,000 live business clients.

“I am delighted to report another strong half-year performance with some significant loan book, origination, and customer service milestones met as we continue our consistent and continuous progression,” said Josh Levy, CEO at Ultimate Finance.

•   Ultimate Finance reports record loan book of £342m for Q1 2024
•   Ultimate hits new bridging funding record for third month in a row
•   Ultimate Finance reports a loan book of over £310m in 2023

“It is the combination of progress in multiple areas that together adds up to material advancement, with numbers just one part of the story as we reflected on in our recent Responsible Business Report publication covering our ESG commitments and priorities.”

“We are proud to work in partnership with our introducers and brokers to support the ambitions of SMEs and property investors across the UK and have welcomed dozens of new members to our team in the past 12 months to enable continued growth.”

Josh explained that, despite tough trading conditions in many sectors, its loan book continues to perform well and the company expects to see an uptick in transactions for MBOs, property purchases, and energy efficiency driven upgrades to equipment and vehicles in the near future.

“With political certainty and stability now set post-election, and inflation levels much reduced, we hope to see the first interest rate cuts delivered in the coming months to act as a further catalyst for business confidence and investment.

“The new government has made housing a key policy theme with new homebuilding targets and promised planning reform and, while this is familiar rhetoric, both the housing market and construction industry will be hoping that core aspects of this can finally be delivered.

“The versality of our solution offering gives us significant confidence in our ability to capitalise on the market dynamics we see ahead.”

The lender shared it will soon reveal a further increase to its funding capacity in a bid to continue its success in the second half of the year.