Ultimate Finance reaches £14M milestone in funding to construction businesses

SME lender Ultimate Finance reaches £14M milestone in funding construction SMEs through Construction Finance product.

A total of £14M in funding has been provided to SMEs in construction by Ultimate Finance, with their Construction Finance product which is uniquely tailored to meet the specific requirements of businesses in the sector.

Martin Bennison, Managing Director of Construction Finance at Ultimate Finance, commented: “The construction industry faces a number of challenges, not least a weak pound, skilled labour shortages and managing the costs of raw materials.

“Despite this, these figures prove that our customers are confident in accessing funds, and are positive about their future.”

This follows a record 2016 for Ultimate Finance, which saw a 23% increase in overall lending, 16% increase in client base, and an expansion of its national footprint with new offices in Leeds, Edinburgh and Manchester.

“Irrespective of industry or size, SMEs need fast, flexible and fair cashflow solutions that supports good working capital and allows them to grow and, as importantly, let’s them get a good night’s sleep knowing that the wages will be paid.

“As an independent business ourselves we know that one day you have money in the bank and the next a big bill can change everything. Our growth over the past year reflects the investment we have made in our portfolio f products, and the insight we are able to bring to our offering.”

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