Eric DeArmitt – Regional Director at Optimum Finance

Our Meet the Lender series continues with Eric DeArmitt, regional director at Optimum Finance. Eric shares his thoughts on market trends, the growing role of technology in finance and why personal service still matters.

What trends are you currently seeing in the market?

We’re seeing more and more businesses being moved on by bank-backed invoice financiers, who tend to focus only on larger CID deals. They’re also reluctant to support businesses facing challenges such as recent losses or HMRC arrears. By contrast, we offer solutions ranging from full factoring to bulk CID and are prepared to take a commercial view as long as the debt is collectable.

What advice would you give to businesses seeking financing for the first time?

Don’t choose a lender on price alone. The cheapest facility often comes with limited personal service, less flexibility and reduced support if difficulties arise. It’s far better to partner with a provider who understands your business and will stand by you through challenges as well as successes.

Do you foresee the lending market changing in the next few years and if so, how will this impact finance?

Yes, I expect to see more algorithm-led providers entering (and leaving) the market. While these models may deliver cheaper and faster facilities, they typically lack flexibility and the personal relationship that many businesses need. For SMEs, that absence of understanding and support can be a significant drawback.

What motivates you personally in your work as a lender?

Helping businesses secure finance solutions that truly work for them, no matter what stage of their journey they’re in. There’s real satisfaction in knowing the funding we provide makes a tangible difference.

How long have you been working with Evolve Business Finance and how has the partnership benefited your business?

We’ve worked with Evolve for two years and I have great trust and respect for their team. Their introductions are always well considered and their advice has been invaluable in building strong, lasting client relationships.

Can you share something about yourself that people might be surprised to learn?

I’m actually American – though I tend to keep quiet when it comes to politics!

What makes Optimum stand out in today’s market?

We’re a personal and flexible invoice finance provider, supporting SMEs with facilities ranging from start-up level right up to £2M. Our approach is simple: we listen, we understand and we tailor solutions to support businesses wherever they are on their journey.