Asset-based lender Ultimate Finance provided funding of more than £500m to UK SMEs in the first quarter of 2023, while we continue to provide cyber security for free to support our region’s SMEs.
Ultimate Finance, which has offices in Bristol, Manchester, Leeds, Lutterworth and Edinburgh, said new business levels were 12 per cent higher than the equivalent period in 2022.
The asset finance and bridging finance loan books have grown by 20 per cent and 28 per cent respectively.
Chief executive Josh Levy noted that the specialist lending market "remains buoyant and liquid".
He added:
"Our loan book continues to perform well and whilst there are increasing examples of external factors putting pressure on clients, the ability to remain flexible and adapt requirements to individual borrower needs will keep enabling specialist lenders like ourselves to fill any funding gaps that emerge.
"A concern coming into this year is how SME demand for finance would hold up in the face of overall uncertainty and a higher cost of borrowing, but the adviser and broker community has played a key role in supporting borrower demand and giving businesses confidence to pursue available opportunities with the assurance that funding availability remains plentiful.
"We expect the rest of this year to remain focused on a greater use of strategic funding options to support working capital and investment needs."
Whilst asset-based lenders like Ultimate Finance are supporting SMEs financially, our bid to support SMEs comes at no cost.
Businesses will be feeling the effects of the cost of living crisis like everybody else, and many may overlook their cyber security because they think it’s expensive or not something they need.
If there is one thing SMEs need, it’s cyber security, even in its most basic format. Cyber-criminals don’t just target the big businesses. If they can exploit a vulnerability in a business, they will. Size definitely does not matter!
We can offer awareness, guidance and support entirely free of charge via our community membership option, and if you want to train your staff on the risks and threats that they should be aware of and need to look out for, or if you want to know if your company website is safe, we can offer affordable services.
Whilst asset-based lenders provide your financial security, let us offer free cyber security.
Reporting
Report all Fraud and Cybercrime to Action Fraud by calling 0300 123 2040 or online. Forward suspicious emails to report@phishing.gov.uk. Report SMS scams by forwarding the original message to 7726 (spells SPAM on the keypad).