- 13 Feb
Ultimate Finance Appoints New CEO
Josh Levy has been appointed as CEO at Ultimate Finance Group (UFG), replacing Ron Robson, who has been CEO since 2015. The Ultimate Finance blog announced the appointment in a post dated 11/02/19 which confirms that Josh has, for the last year, worked alongside Ron Robson on the strategy for growing the business.
New CEO At Ultimate Finance Group
A quick look at Josh's LinkedIn profile shows that he holds an MSc in Corporate Strategy and Governance, and he was with Investec as an Associate, Investment Banking from August 2011 until 2016. From November 2015 he was a Non Executive Director at Michells & Butlers, the long established restaurants, pubs and bars operator. Josh became an Investment Analyst at Tavistock Group in August 2016. A rapid ascension to CEO of a major business financing group.
Ultimate Finance Group Performance
Ultimate's website says that since September 2015, Ultimate Finance has enjoyed the full backing of the Tavistock Group, an international private investment organisation. The UFG blog also reports a record year during which they have provided more than £1.4 billion to companies in 2018, including 115% growth in bridging finance loans, 37% increase in asset finance and a 24% increase in invoice finance funds in use.
Ultimate have offices in Bristol, Manchester, Leeds, Lutterworth, Glasgow and Edinburgh. A search at Companies House returns consolidated group accounts filed to 31st December 2017 showing growth in revenue to £26.7M (previously £22.4M), but an increase in operating losses to almost £5.4M (from £3.5M), whilst employing an average of 228 staff during the year (previously 196).
Taking over a substantial group such as UFG is a challenging task, particularly in the light of current levels of market competition. We will watch with interest, to see how he takes the group forwards, and wish Josh the best of luck with this new role.
Previous related news from UFG: Ultimate Finance Absorbs Ashley Finance.
- 18 Apr
Help If You Have Fallen Out With Your Bank
Relationships with lenders don't always run smoothly. Despite our research suggesting that 98% of users would recommend their invoice finance company, sometimes customers fall out with their provider.In some cases this is fueled by the customer having financial problems, turning to their funder, and not getting the response and support that they had hoped for.We had a case recently where a client...
- 16 Apr
A Testimonial From An Invoice Finance Company
We have many testimonials on our site from clients, but we also have some testimonials from the funders and invoice finance companies that we deal with.We were recently Finalists for an award from Business Moneyfacts (BMF), for the Best Invoice Finance Broker 2019.As part of that review process, BMF sought testimonials about us from both our clients and other parties that we deal with.One of...
- 08 Apr
Business Moneyfacts 2019 Awards For Best Invoice Finance Company And Best Service
The ceremony for the Business Moneyfacts Awards 2019 was held a few days ago. FundInvoice were delighted to be confirmed as "Finalists" in the category of "Invoice Finance Broker of the Year". To be one of just ten brokerage companies across the UK, to make the finals for a national award is a big achievement for a small business like ours.The other categories that always interest us are the...
- 01 Apr
Does Your Invoice Finance Company Still Want You?
Does your invoice finance provider still appreciate your business?You may think that sounds like a ridiculous question - surely the purpose of any invoice finance company is to gain clients and hold onto them, so they must appreciate each and every one? That is not always the case.These are previous articles about clients that are no longer wanted by their providers:Well we have just come across...
- 27 Mar
Help With Factoring Company Manage Aways
"Manage aways" are customers which factoring companies are seeking to move a to an alternative lender - normally because the funder thinks that their client's situation has changed, or that they have changed their own criteria. This may sound counterintuitive, that in the current environment any provider could wish to part company with any of its customers, but these situations do arise.HELP...
- 19 Mar
Ultimate Finance (UF) are independent alternative lenders offering a range of financing products to UK businesses. They have funded over £1 billion to date, since their incorporation on 20th November 2001 and retain over 200 members of staff.You can use our contact form to request a call back:REQUEST A CALL FROM ULTIMATE FINANCEUF have been backed by Tavistock Group, since September 2015, the...
- 13 Mar
Scottish Pacific Business Finance New Product For Australia
Readers of this blog will have seen my recent post about Scottish Pacific Business Finance deciding to pull out of the UK market. So I was quite surprised to receive an email yesterday from Scottish Pacific Business Finance heralding a new invoice finance product announcement - it said that they are now offering funding of up to 95% in as little as 24 hours.I called Scottish Pacific in the UK, to...
- 21 Feb
Scottish Pacific Business Finance Closes To New UK Clients
Following hotly on the trail of Sancus Finance Ltd, who's owners recently announced their intention to shut down the supply chain finance division, Scottish Pacific Business Finance have just added an announcement to their website explaining that they will be withdrawing from the UK market by April 2019:The announcement goes on to explain that staff will be working with clients, prospects and...
- 06 Feb
Who Is The Best Invoice Finance Company?
Thinking about using invoice finance or factoring? An obvious place to start would be a google search, perhaps something like "best invoice finance company". Simple and likely to generate a simple answer? You may think so but the result is likely to be more misleading than helpful.Our latest count revealed that there are 100 separate organisations providing invoice finance in the UK. The honest...
- 28 Jan
Has Your Factoring Facility Been Reduced?
Worrying comment on one of my posts, about bad factoring service, from a colleague at one of our funding partners. They have apparently been approached by an advisor whose client has had their factoring facility reduced 25%, by the factoring company that the client is currently using.SEE WHO CAN OFFER IMPROVED TERMSIt may be a one off change to a single client's facility, however the comment...
- 24 Jan
Nucleus Commercial Finance Breaks GBP 1 Billion Lending Target
Nucleus Commercial Finance have broken through their lending target of £1 billion. A quick visit to their site (as at 23/01/19) showed total lending to have reached £1,011,652,237 - a huge growth curve since their inception in 2011.READ MORE ABOUT NUCLEUSBack in 2011 Nucleus launched with just 3 employees, growing to a global team of 125+ today, having 5 awards to their credit, and a portfolio...
- 22 Jan
Marketinvoice Secures GBP56M of Debt & Equity Funding
Marketinvoice, the invoice finance and business loan platform has reportedly secured a further £56 million in debt and equity funding. Reports in Business Money and Finextra suggest that the funding is going to be used to expand Marketinvoice's UK market presence and to launch further fintech-bank partnerships (following their recent fintech partnership with Barclays).MORE ABOUT...
- 21 Jan
Are You Getting Bad Service From Your Factoring Company?
Factoring service levels are generally very good, as evidenced by our research finding that 98% of businesses using invoice finance, that we surveyed were, said that they would recommend their provider. That leaves the 2% that are not prepared to recommend their existing provider, which includes those receiving a bad service, or poor quality service levels from their existing factoring company....
- 08 Jan
App Based Invoice Finance - Investec Intelligent Cashflow
If you are looking for App based invoice finance, Investec Intelligent Cashflow could be the answer that you are seeking.CONTACT FORM FOR INVESTECInvestec Intelligent Cashflow, is provided by Investec Capital Solutions It is a high tech platform, and dedicated account management service, that allows users to access funding through invoice finance 24/7.This secure service is simple to set up,...
- 15 Nov
Telephone Debt Verification Removed From Take On Process
An interesting development from one of the invoice finance companies, who must remain anonymous for what will become obvious reasons.They have decided to remove the telephone debt verification procedure from their take on process, for new customers.Telephone debt verification is the process by which the invoice finance company will contact customers from the clients sales ledger, in order to...
- 08 Oct
Micro Company Finance
Micro companies (often defined as having less than 10 employees) are the smallest of ventures, often just starting up. I had a conversation with a new selective invoice finance company that are going to target just micro companies, with a maximum level of funds in use of just £30K.This is not a segment of the invoice finance market that is being addressed by most funders. If anything, we have...
- 28 Aug
Partnership Invoice Finance Joins UK Finance
Partnership Invoice Finance have recently joined UK Finance, the trade association for the finance and banking industry. Great news for customers as this means that members agree to abide by a code of conduct that provides peace of mind to customers of members.Partnership Invoice Finance are an independent invoice finance company that are focused on delivering a high quality, flexible personal...
- 23 Jul
How Financially Strong Is Your Invoice Finance Company
How financially strong is your invoice finance company?The recent appointment of Liquidators at Urica Ltd made me think about the relative strength of the financial position of different invoice finance companies.In the case of Urica, they had incurred significant historic losses, and had a negative net worth within the business, according to accounts filed prior to the failure. Therefore, they...