Turning assets into opportunities for growth

Since launching early last year with a £150 million loan book backed by London’s Pollen Street Capital, Upstream ABL has proven itself to be a major force in delivering Structured Asset Based Lending (ABL) solutions to future-focused businesses across the UK and Ireland.

Based in Belfast, the company founded by CEO Judith Totten MBE has enlisted a steady stream of business partners keen to maximise the benefits of securing funding on a variety of assets, helping them to unlock new opportunities, scale up and grow.
With a distinguished 30-year career in banking and financial services, former senior banker Azem Hanif joined Upstream ABL as Credit and Risk Partner to help drive the ambitions of local business owners and entrepreneurs to stimulate new growth.

What do you enjoy most about the role?

I value the variety the role offers. On any given day, I’m working closely with colleagues across Upstream ABL, engaging with business owners, or collaborating with professional advisers. That mix keeps things both dynamic and intellectually engaging.

Asset based lending also gives you a unique window into a wide range of industries. Every business has its own story, challenges and ambitions and I genuinely enjoy understanding how they operate and where we can support them.

Being able to demonstrate how structured ABL solutions can unlock growth is particularly rewarding.

How can ABL help?

ABL allows businesses to unlock the latent value within their balance sheet – across receivables, inventory, plant, machinery, vehicles and property. It’s an inherently flexible form of finance and can be scaled alongside needs, which is a key advantage, enabling management teams to maintain liquidity, invest selectively and respond quickly to opportunities without being constrained by traditional lending structures.

What makes Upstream ABL different to other lenders?

Upstream ABL operates in a relatively specialist part of the market as a structured asset based lender with genuine cross-border capability. We can deliver funding solutions seamlessly across mainland UK, Northern Ireland and the Republic of Ireland – something many competitors cannot offer.

In addition, our backing from Pollen Street Capital provides strong funding support and significant lending discretion. This allows us to move quickly and structure bespoke solutions that reflect the realities of modern businesses, rather than relying on overly rigid criteria. 

What advice would you give to businesses seeking funding right now?

Start early and keep an open mind when reviewing your options. Collaboration is vital in building a successful partnership with a lender and it is often one of the most successful ingredients.

While credit approvals can be delivered quickly, the overall process – from preparation through to completion – does require careful planning.

Robust financial information is key. Engaging with a trusted adviser or accountant to build and challenge forecasts is invaluable, particularly when considering different trading scenarios.

Equally important is transparency. Keeping your funding partner informed. Maintaining open dialogue helps create a true partnership, which ultimately leads to better outcomes.

Above all, trust is key and we pride ourselves on being a trusted adviser and partner to every client.

What have been the big business highlights over the last year?

Over the past year, we have successfully completed several complex, cross-border transactions that demonstrate the strength of our structured ABL offering. We have also continued to expand our presence across both the UK and Ireland, building stronger relationships within the advisory community. This has been key to increasing awareness of what structured ABL can deliver.

Internally, further strengthening our credit and risk frameworks – while maintaining agility – has been an important milestone in supporting sustainable growth.

The completion of a successful management buyout (MBO), which returned Upstream to local ownership under founder Judith Totten MBE, was the pivot that helped to kickstart Upstream ABL’s new ambition, supported by Pollen Street Capital.

What are your main priorities and goals in your role? 

My primary focus is to ensure that Upstream ABL’s governance framework and risk appetite are consistently upheld, while supporting sustainable growth across the UK and Ireland.

That involves continuously refining credit policies, maintaining strong stakeholder engagement, and adopting a forward-looking view. Horizon scanning is especially important in the current environment – anticipating potential economic headwinds and ensuring we remain both responsive and resilient

How do you define success, and what drives you to succeed? 

Success, for me, is about delivering consistent, well-judged outcomes over the long term – supporting businesses to grow while managing risk effectively. What drives me is striking the balance between commerciality and discipline. Making informed decisions that enable clients to achieve their ambitions, while ensuring those decisions stand up to scrutiny, is a key part of the role and something I take pride in.

What’s the biggest challenge in business right now?

The biggest challenge is navigating uncertainty – particularly around economic conditions, interest rates and geopolitical tensions.

However, that also creates opportunity. Businesses with flexible funding structures are in an agile, strengthened position to take market share, pursue acquisitions, or invest counter-cyclically. Lenders like Upstream that can provide that flexibility have an important role to play.

Where do you want the business to be this time next year?

I’d like to see continued measured growth across our chosen markets, with a strong pipeline of high-quality transactions. Equally important is maintaining our reputation as a responsive and solutions-focused lender. If we can continue to build trusted relationships with clients and advisers, while preserving credit quality, that will represent real success.

What would you like to achieve this year – personally and professionally?

Professionally, my focus is on supporting continued growth while enhancing our risk framework, including exploring how tools such as AI can support better, more informed decision-making. Personally, I’m always looking to broaden my perspective – whether that’s through engaging with different sectors, building new relationships, or continuing to develop as a credit professional. I was recently delighted to be appointed to the Board of Radius Housing Association, the region’s largest housing association and I look forward to bringing my almost three decades of knowledge and experience to support its ambitions.

What’s the best business advice you’ve received?

Focus on fundamentals, don’t lose sight of risk and don’t believe the hype! In practice, that means asking the right questions, understanding downside scenarios, and not being overly influenced by short-term optimism. Strong, sustainable decisions are rarely rushed – and that discipline is critical in business.

Tell us something about yourself that would surprise people.

After nearly 30 years on the waiting list, I’m now down to number 987 for a Liverpool Football Club season ticket – so I’m hopeful I might get there before I retire!