Meet the Lender: Steve Armstrong, Ultimate Finance

Our Meet the Lender series continues with Steve Armstrong, regional director at Ultimate Finance. Steve has spent over 25 years supporting SMEs and family businesses and has seen the good, the bad and the avoidable when it comes to funding. He shares what he’s seeing in the market, how businesses can make smarter choices and why solid advice can save real headaches later on.

What trends are you currently seeing in the market?

Lots of businesses have poor debt structures. Easy money is everywhere at the moment, but what feels like a quick fix can turn into a headache when repayments hit. It’s common to see businesses with short term cashflow loans from four or five funders, each taken when the last one caused a cashflow squeeze. It’s vital for businesses to get their working capital funding right and understand their cashflow.

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

Get good advice and use people who deal with funders every day. There are plenty of options out there and the fastest route to money is often not the best one. It can make cashflow worse over time. Using a professional adviser lets you focus on running your business while they find the right funding package.

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

The alternative funder market is here to stay and will keep offering strong options to good businesses. I wouldn’t be surprised to see more traditional funders return to the SME market, but I expect them to focus on cleaner, low-risk deals. I also expect M&A activity to rise. Many small to mid-sized business owners in the UK are nearing retirement, so getting the right advice early will matter.

What motivates you personally in your work as a lender?

Working with SMEs and family businesses where I know we can make a real difference. Helping someone retire, or fixing a debt structure so they can sleep at night, is hugely rewarding.

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

I’ve known Stef for many years, after a chance meeting at Uttoxeter races when he was still with a funder. His strengths are honesty, integrity and deep knowledge of the market. Stef does the hard work up front. He only brings deals when he knows they fit, he presents the facts clearly and he’s upfront about any issues. It makes it far easier for funders and clients to get the right outcome.

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

I only came into finance in my late 20s, as a temporary move, after a career in the licensed trade. Twenty-five years on, I might have to admit I’m here to stay.

What do you want businesses to know about Ultimate Finance and what you offer?

Ultimate’s breadth in the ABL market surprises many people. We have a strong appetite to support businesses with well-structured funding packages up to £10m for growth, turnaround or ownership changes.