Bristol finance specialist advances “milestone” £500m to UK SMEs

Specialist invoice finance provider for SMEs, Optimum Finance, has continued with its consistent growth trend into 2022 making the first half of the year the “most successful period in the company’s history”.

Key milestones for Bristol based Optimum this year have been over £500m advanced to UK SMEs, processing over 400,000 invoices and working with clients in almost 50 different industries. Portfolio highlights for H1 2022 vs H1 2021:

• New business increase of 25 per cent
• Loan book growth of 61 per cent
• Client turnover increase of 57 per cent
• An additional 44 per cent of cash advanced.

Optimum proclaims to pride itself on “excellent service and being a company that cares”. This has been recognised in part by being named finalists for Service Excellence at the SME National Business Awards.

Clients that sign up to Open Banking benefit from a further reduction in effort of managing their facility. Optimum has seen over one third of its new clients signing up to Open Banking services.

A promising upturn in activity and customer base has driven a boost to client receivables by 67 per cent with client exposure growing by 61 per cent compared to the same time last year. These increases are driven by a rise in performance from Optimum’s existing client base and “substantial growth” in new business.

CEO Ant Persse commented: “It’s great to see that our clients are making more sales, and driving growth, this is a truly positive sign. We are extremely proud to play our part in this by providing access to much needed cash for these fantastic businesses, that are delivering goods, services and job creation.

“We consider our service provision as a launchpad for businesses to succeed despite the global economic downturn and interest rate rises.

“The half-a-billion-pound advanced milestone we’ve reached this year is a testament to the reliability of Optimum in providing continued funding to businesses that want our help. I’m confident that we will continue this growth trend into 2023 and beyond.”

Optimum’s forecasted figures for the remainder of the year are similarly impressive with additional increases in all areas of the business. Momentum is forecasted to continue within the invoice finance portfolio, with client portfolios to finish 45 per cent higher than H2 2021 and new client volumes up 39 per cent against 2021.

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