Specialist asset-based lender Ultimate Finance has increased its asset finance securitisation facility with Lloyds Bank from £100m to £145m, according to a press release.
The expansion follows a strong start to 2025, with origination growth accelerating in the first quarter and continued expansion of the lender’s asset finance loan book.
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In the first 15 weeks of the year, Ultimate Finance provided £32m in new asset finance facilities to UK businesses through hire purchase, finance lease and refinance products. The company reported a 70% year-on-year increase in origination for Q1, with loan book balances exceeding £120m for the first time.
Neil McMyn, Chief Financial Officer of Ultimate Finance, said the increase reflects strong demand and ongoing support from introducers and broker networks. “The facility increase further extends the long-standing relationship we have with Lloyds and our ability to provide even more funding and investment capital to SMEs throughout the UK,” he said.
Andrew Scott, Director at Lloyds, said the bank is committed to supporting the SME sector through securitised funding. “We are proud not only to provide this additional funding to Ultimate Finance, but also to support the company as it continues to deliver on its growth ambitions,” he said.
The announcement follows Ultimate Finance’s £370m wholesale funding raise in 2024 across its working capital, asset finance and bridging finance products, the company said in a press release.
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By GlobalDataThe lender is part of the Tavistock Group, a private investment company.
