Ultimate Finance surpasses £400m loan book milestone

Ultimate Finance has passed a major growth milestone after reporting a record loan book of £413 million in the first quarter of 2026, driven by its strongest-ever quarterly new business performance.

The independent lender said its Q1 results build on a record 2025, with lending up 23% year-on-year and new facilities rising 16% to £72 million, the highest quarterly origination in its history. Growth was seen across all divisions, with Asset Finance delivering £27 million in new business, matched by Bridging Finance, while Working Capital contributed £18 million.

The company said the performance reflects sustained demand for flexible funding as UK businesses continue to navigate a challenging economic backdrop. It also confirmed further investment in its product offering, with updates to its Asset Finance and Bridging Finance propositions expected shortly to expand lending capability and better support introducers and their clients.

Ultimate Finance is also continuing to build its Structured Finance presence following enhancements introduced last year, including increasing facility sizes to £10 million and adding commercial property loans within asset-based lending packages.

Alongside its trading update, the business announced leadership changes as part of a planned evolution to support future growth. Andrew Ribbins will retire at the end of April after 16 years with the company, having established its Asset Finance division and later serving as Group Sales Director.

Chief Executive Josh Levy paid tribute to Ribbins’ contribution, highlighting both his role in building the business and his impact on colleagues.

“I want to recognise Andrew’s immense contribution to Ultimate Finance. Over 16 years he established our Asset Finance business and helped shape it into the strong operation it is today. His impact has been significant, and his biggest legacy will be the people he’s supported along the way.” 

As part of the restructure, Simon Gregory will become Head of Asset Finance, working alongside Sales Director Paul Hansen, while Liam Cavanagh continues to lead Bridging Finance. In Working Capital, Lawrence Wood will head origination and John Lightfoot will oversee portfolio management.

Levy said: “Passing the £400m loan book milestone in Q1 is a powerful vote of confidence from the introducers who trust Ultimate Finance and a reflection of the consistent performance of our teams across Asset Finance, Bridging Finance and Working Capital. 

“With clear product leadership in place, we’ll keep strengthening our propositions and delivery and continue backing UK businesses as they navigate a turbulent economic landscape “