Ultimate Finance has increased its asset finance securitisation facility with Lloyds, with an initial level of £100m rising to a new capacity of £145m.
The increased lending capacity and capability comes after an acceleration in origination growth in the first 15 weeks of the year, with £32m of new asset finance facilities provided to businesses through hire purchase, finance lease or refinance solutions.
Last year Ultimate Finance secured £370m in wholesale funding across its full product range of working capital, asset finance and bridging finance to complement its deep capital base as part of the Tavistock Group.
Last month, the lender announced a price reduction for its development exit facilities and key product enhancements across its range of bridging loans.
Development exit facilities now feature pricing from 0.79% per calendar month and allow borrowers to share in the net sales proceeds during the term of the loan and access profits earlier.
Ultimate Finance also introduced a new light touch refurbishment facility, offering up to 85% gross LTV on day one, providing immediate access to funds for property improvements.
Neil McMyn (pictured), CFO of Ultimate Finance, commented: “Comparing the first quarters of 2025 and 2024, asset finance origination was up 70% and the momentum is continuing into the second quarter with strong support from our key introducer and broker networks powering our asset finance loan book above £120m for the first time.
This 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.”
Andrew Scott, director at Lloyds, said: “Lloyds is committed to providing securitised funding to the SME sector, and 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.”
