Ultimate Finance branches out to TF

The UK-based Ultimate Finance group is creating a new trade finance subsidiary.

The business, Ultimate Trade Finance (UTF) will provide financing for the acquisition of manufactured goods by small and medium-sized businesses.

The main focus will be on import financing, although export and domestic transactions will also be considered as well as services such as shipping, delivery services and goods inspections.

UTF will receive their financing by a new facility with Lloyds bank.

Richard Pepler, chief executive of the Ultimate Finance group, comments: “UTF underlines the company’s strategy of identifying and implementing effective, innovative ways to meet the needs of current and prospective clients; some of whom are currently denied access to traditional forms of funding. We are particularly pleased to extend our existing relationships with Lloyds in this way.”