Bristol-based Ultimate Finance Group, which provides funding to small and medium-sized enterprises, has opened its first office in Scotland.
Heading the new Glasgow base is Richard Waldman, pictured, who is well known in financial circles having spent more than 20 years in the industry. For 10 years, he was regional managing director at Aldermore in Glasgow and, prior to that, worked at RBS Invoice Finance. 
The office is the eighth for the group, which was established in 2002 to provide a range of funding options, such as invoice finance and other asset-based lending products, to help businesses improve their cashflow, release money tied up within the company and fund growth.
The opening of the Scottish office coincides with impressive growth for Ultimate Finance over the past 12 months with loans and other receivables increasing by 60% and the client base across all funding types growing by 36%.
Richard Waldman said: “Although we may be a new name in Scotland we have established a great reputation south of the border for helping SMEs with their funding requirements and we plan to do the same here.
“What impresses me about Ultimate Finance is the unwavering desire of the group to assist and support businesses. With high street banks still showing a reluctance to lend, we provide an attractive alternative.
“We aim to build a strong presence in Scotland and by recruiting the best people, we will be able to provide our growing client base with a range of suitable funding solutions to help them strengthen and grow their own businesses, which can only be good for the Scottish economy.
Group sales director, Nick Smith, is confident the new office will enjoy quick success. He said: “Having worked with Richard before I know he is the right person to establish our presence in Scotland. His experience, knowledge and connections in the area, both with intermediaries and businesses, will have an immediate impact.
“These are really exciting times for the group and by attracting people of Richard’s calibre we are looking forward to continuing to help businesses across the UK to grow and become successful.”
