Ultimate Finance Group, which provides cashflow solutions to SMEs, is opening its first office in Scotland, its eighth in the UK.
Richard Waldman will head up the new office, which is based in Glasgow. He has 20 years experience in financial series; he was regional managing director at Aldermore in Glasgow for a decade and, prior to that, he worked at RBS Invoice Finance.
Ultimate Finance Group was set up in 2002 to provide a range of funding options, such as invoice finance and other asset-based lending products, to help businesses improve their cashflow, release money tied up within the company and fund growth.
Over the last 12 months it has seen significant growth, with loans and other receivables increasing by 60% and the client base across all funding types growing by 36%.
Waldman said: “Although we may be a new name in Scotland we have established a great reputation south of the border for helping SMEs with their funding requirements and we plan to do the same here.
“What impresses me about Ultimate Finance is the unwavering desire of the group to assist and support businesses. The company really does have SMEs interests at heart and realises that customer service, flexibility and speed of response are extremely important elements. With high street banks still showing a reluctance to lend, we provide an attractive alternative.
“We aim to build a strong presence in Scotland and by recruiting the best people, we will be able to provide our growing client base with a range of suitable funding solutions to help them strengthen and grow their own businesses, which can only be good for the Scottish economy.”
Group sales director, Nick Smith, added: “Having worked with Richard before I know he is the right person to establish our presence in Scotland. His experience, knowledge and connections in the area, both with intermediaries and businesses, will have an immediate impact.
“These are really exciting times for the group and by attracting people of Richard’s calibre we are looking forward to continuing to help businesses across the UK to grow and become successful.”