Ultimate Finance reports strong first half in Bridging Finance
Leading SME funding partner Ultimate Finance today announces a strong first half performance in bridging finance, with the average value of new deals increasing by over 20 per cent compared to the same period in 2018.
So far this year, Ultimate Finance has provided £15 million in bridging loans, taking the total it has lent since the launch of the product in 2016 to nearly £60 million. This has been largely within the residential and commercial property markets alongside a strong increase in demand for development exit funding. This diverse bridging portfolio highlights the company’s flexible approach to funding at a time when it continues looking at new ways to provide property entrepreneurs with the help they need to thrive.
The figures echo growth across the entire business, as Ultimate Finance reports its strongest first half performance on record, having provided £750 million to SMEs in 2019 so far across its full suite of asset-based lending solutions.
Josh Levy, pictured, CEO at Ultimate Finance, said:
“Over the last six months we have significantly strengthened our offering in the bridging space and will be increasing the size of our team and market presence. We continue to build on the success of our bridging offering, supporting our clients and introducers with our flexible approach that recognises the need to execute quickly and efficiently. We expect market demand to remain strong and are committed to increasing our funding in line with client need. We’re confident that the second half of the year will be even more successful than the first.”