Invoice finance firm Optimum Finance increased its lending to SMEs by more than 330% to £60.9m in 2018.
In just its second year of trading, the firm worked with companies across the UK to help fund growth and protect their cash flow in a range of sectors from recruitment and manufacturing to wholesale and professional services.
Even the usually quiet months of July and August saw a dramatic upswing in business with SME clients generating 10% more income than they were forecasting.
The Optimum Finance team aims to continue its rapid growth in 2019 with plans to double lending to more than £150m over the next 12 months as SMEs look to take advantage of a range of flexible funding solutions to fuel commercial growth.
Founded in 2017, Optimum Finance provides bespoke funding solutions for SMEs to enable them to release cash tied up in client and customer invoices, enabling them to flourish in prosperous months and prepare for quiet periods.
The firm has seen staff numbers soar in line with lending over the past 12 months with 14 new experienced professionals welcomed to the team.
Richard Pepler, CEO of Optimum Finance said: “We’re really proud of the rapid growth we’ve seen over the past year. This is further evidence of how many more SMEs and accountants are choosing invoice finance solutions to fund growth and development while protecting cash flow.
“Our experienced team is committed to supporting SME growth and have a proper understanding of the needs of small businesses. We do not take a one-size-fits-all approach but tailor our financial solutions to suit each individual client. We’re really looking forward to working with many more fantastic businesses in 2019.”