At Ultimate Finance, we’re here for the long-term

In the last two months we’ve enhanced our ability to provide UK SMEs with quick access to finance through this difficult time. We continue to be dedicated to supporting business’ cashflow, working capital and investment needs through our range of asset-based lending solutions and relationship management. We’re now also approved for accreditation by the British Business Bank for the government backed Coronavirus Business Interruption Loan Scheme (CBILS).

As a specialist asset-based lender, we have been supporting SMEs for nearly 20 years and provided more than £1.6bn of funding last year alone. We achieved this milestone with a simple approach: a service-led, and solution-driven mindset. Now, more than ever, it’s vital we offer ongoing support and partnership to meet the needs of our clients. Being part of the Tavistock Group allows us to lean on our heritage as an entrepreneurial family-owned business that understands the challenges of operating a business through different economic conditions.

Our service-led model is a return to ‘old school’ business banking via a personal service between business owners and their lender that values trust and flexibility. The transition to remote working has not impacted the level of service we offer – in fact through video conferencing and calls we’ve found ourselves speaking to clients and introducers more than ever.

Similarly, our appetite for new lending is pragmatic in the circumstances but remains strong. Some lenders have incorporated automated processes that provide answers to lending applications based on algorithms. But this is not how we want to use technology at Ultimate Finance – we pride ourselves on human underwriting facilitated by a quick process and use of data tools. Indeed, we use technology to enhance and enable better and slicker interactions at all stages of a client or introducer’s relationship with us.

The UK economy shrank by 2% in the first three months of 2020 as COVID-19 forced the country into lockdown and a significant recession in the second quarter is now inevitable. SMEs need strategic advisers and funding partners to help them overcome immediate cashflow challenges, and longer-term barriers to recovery.

We welcome SMEs and introducers who want to talk through their challenges with a specialist. In such a complex and unique business environment the human element is vital when weighing up lending decisions. Our business model is to offer fast and flexible funding with a personal service to support our introducers and their clients. The current climate only serves to highlight the importance of building and maintaining long-term trusted relationships.

Our appetite for new lending is pragmatic in the circumstances but remains strong and our CBILS accreditation enables us to provide funding to businesses negatively impacted by COVID-19.

By Josh Levy, CEO, Ultimate Finance