Specialist asset-based lender, Ultimate Finance, today announced its commitment to small and medium sized enterprises (SMEs) in the face of Brexit uncertainty by signing the SME Finance Charter.
An initiative led by the Business Finance Council, the SME Finance Charter has set out a series of commitments that demonstrates members’ support of SMEs throughout the UK.
Ultimate Finance have a 20-year track record of supporting UK businesses with funding solutions such as Working Capital Finance, Asset Finance and Bridging Finance on applications of up to £5m. The company provided over £1.4bn of funding throughout 2018 and currently works to supports over 2,500 SMEs.
Research commissioned by Ultimate Finance earlier this year found that that 77% of SMEs are concerned by the resilience of the UK economy, with Brexit cited as the biggest barrier to economic resilience. It is for this reason that Ultimate Finance are proud to publicly commit to the SME Finance Charter.
Josh Levy, CEO of Ultimate Finance, said: “We are proud to have signed the SME Finance Charter to affirm our unwavering commitment UK SMEs across the country. Ultimate Finance is committed to supporting and facilitating businesses’ growth ambitions in all market conditions. We tailor our funding by looking at the bigger picture to find the right solution at the right time – an approach that’s integral in the current uncertain context.
“Whatever happens to the UK economy and the terms of our departure from the EU, it’s certain that the country needs SMEs to continue to be as ambitious, flexible and resilient as before, and with the right funding and non-financial support that we will continue to provide, we have no doubt that businesses will rise to this, through Brexit and beyond.”
Kelly Tolhurst MP, Small Business Minister, said: “Financial support from banks and lenders is often crucial to the success of an SME. So, it is great to see Ultimate Finance reaffirming support for their business customers through our new SME Finance Charter.
“Ultimate Finance’s commitments of continued and proactive support will give their SME customers the confidence they need ahead of Brexit on 31 October and beyond – with opportunities to thrive, grow and scale up in new markets.”
The Charter consists of 5 commitments that reflect the areas that government, finance providers and businesses have identified as significant in ensuring that the SME market works effectively. These are:
- We’re open for business and ready to lend.
- We’ll help you prepare for Brexit and beyond.
- We’ll support your application and signpost other options if needed.
- We’ll treat you fairly at all times.
- We’ll work with the government-owned British Business Bank to support SMEs.