Ultimate Finance review: invoice, asset, construction and structured finance for UK SMEs

Ultimate Finance is a specialist asset based lender for UK SMEs, best known for invoice finance and for funding sectors that mainstream lenders can find tricky, such as construction and recruitment. Smart Funding Solutions is an independent broker and is not part of Ultimate Finance, so we can compare its proposal with other invoice finance, asset finance and structured lenders before you decide. You can read more on Ultimate Finance's own website.

01About Ultimate Finance

Ultimate Finance was set up by a team who left senior roles in the invoice finance industry, and it grew from a handful of staff and clients into a national lender. It is headquartered in Bristol and has offices in cities including Glasgow, Leeds, Manchester and London. Today it is backed by the Tavistock Group, an international private investment organisation, and operates as an independent lender.

Ultimate Finance says it has over twenty years of expertise and has lent over £19 billion in funding. Each client is given a dedicated relationship manager and online portal access. Its published case studies span construction, recruitment, agriculture, property development, retail, healthcare, IT and recycling.

02What Ultimate Finance funds

Invoice and construction finance

Ultimate Finance's invoice finance releases cash tied up in unpaid invoices, and it can add a cash flow loan to the same facility. Its construction invoice finance is a notable strength, because applications for payment, retentions and stage billing put off many providers. It also offers dedicated recruitment finance for agencies funding temporary workers' pay.

Asset, bridging and structured finance

For equipment, Ultimate Finance offers asset finance focused on hard assets. It also provides business bridging loans and structured finance that can bring several types of security together, which suits refinancing, acquisitions or turnaround situations.

03Who Ultimate Finance suits (and who it may not)

Ultimate Finance is a strong candidate if:

• You run an established B2B business with a meaningful debtor book.
• You are in construction or recruitment and have struggled to find invoice finance that understands your contracts.
• You want several facilities, such as invoice finance plus asset finance or a cash flow loan, from one lender.
• You need a larger or more complex facility that combines receivables, assets and property.
• You value a named relationship manager rather than a purely online service.

It may not suit you if:

• You are a very small or new business with a small sales ledger. Whole ledger facilities generally work best once the sales ledger has some scale.
• You sell to consumers rather than other businesses.
• You only want to fund the odd invoice now and then, where a selective online provider may be simpler.

04What Ultimate Finance looks at

Ultimate Finance tailors facilities case by case. For invoice and structured finance you should typically expect it to review:

• An aged debtors and creditors list, and details of your main customers.
• Recent filed accounts and up to date management accounts.
• Your contracts and terms of trade, especially in construction.
• Existing lenders and any security they hold.
• For asset finance, details of the asset, the supplier and its expected life.
• For bridging or structured deals, the property or other assets offered and the exit plan.

Invoice finance facilities are usually secured by a debenture, and directors may be asked for a personal guarantee or warranty on some products.

05Pros and cons

• Pro: a broad range from invoice finance to bridging and structured facilities.
• Pro: specialist appetite for construction and recruitment.
• Pro: large facility limits for growing businesses.
• Pro: dedicated relationship managers and regional offices.

• Con: not designed for very small or start-up businesses.
• Con: invoice finance agreements can include minimum terms and notice periods.
• Con: asset finance focuses on hard assets rather than software or soft assets.
• Con: combining multiple facilities with one lender can make switching harder later.

Invoice finance facilities are usually secured by a debenture, and directors may be asked for a personal guarantee or warranty on some products.

06Applying through a broker vs going direct

Invoice and structured facilities vary widely in advance levels, contract length, notice periods and the security required. Comparing several proposals side by side is the best way to avoid being locked into terms that do not suit. We search the market, present your business properly to suitable lenders, which may include Ultimate Finance, and help you compare offers clearly. You only tell your story once. It is free to enquire; any broker fee is disclosed separately before you proceed. To get started, use our Instant Quotes tool.

07Alternatives to Ultimate Finance

• Time Finance: a good comparison for smaller SMEs wanting invoice finance and asset finance, including soft assets.
• Bibby Financial Services: a long established invoice finance specialist worth comparing for factoring and discounting.
• Close Brothers: an alternative for larger asset finance needs.

You can check any firm on the FCA Register before you sign.