Simply Asset Finance achieves milestone growth in Northern Ireland

Simply Asset Finance, a leading provider of specialist business lending solutions, has announced that its Northern Ireland office has now surpassed £100m in total loan origination – a milestone achievement for its growth. The news underscores the business’ ongoing commitment to supporting SMEs across the region, with agile products designed to flex according to need.

Since its opening in May 2019, Simply’s Belfast office has successfully financed over 1,800 loan agreements for more than 700 SME customers across Northern Ireland, helping them to acquire 2,900+ assets to further the growth of their businesses. It has also expanded to a team of six, including sales representatives and Broker development managers to support local customers and brokers.

The successes in the region have been in-part driven through its work with the British Business Bank – which has seen Simply lending as an accredited provider of the Coronavirus Business Interruption Loan Scheme (CBILS), Recovery Loan Scheme (RLS) and the Growth Guarantee Scheme (GGS).

By cultivating strong partnerships with commercial brokers, and through the efforts of its local experts, Simply’s Northern Ireland team has ensured its innovative lending solutions are easily accessible to growing and established enterprises throughout the region, whatever their lending needs.

The news comes following Simply announcing in August that it had surpassed a £0.5bn loan book milestone, and a total cumulative loan origination of £1.4bn in the first half of 2024. In June, it also announced backing from Bank of America for a loan facility worth £120m.

Gary Coburn, Head of Sales Northern Ireland, Simply Asset Finance says, “We’re seeing fantastic growth opportunities for SMEs across Northern Ireland. Challenges like Brexit, Covid-19, and a period without a functioning Northern Ireland Executive, clearly haven’t thrown these businesses off their stride, who have remained remarkably resilient.

“As we look ahead, we’re committed to supporting them with tailored lending solutions, helping them thrive and continue driving our economy forward. I’m reminded daily of the ambitious nature of the SMEs we work with, and look forward to seeing their growth plans become a reality in the coming months and years.”

Mike Randall, CEO of Simply Asset Finance, says “Northern Ireland is an important market for us as a business. The progress that has been made in the last few years is only testament to the demand for quality, targeted lending among businesses in the region.

“Gary and the team have done an incredible job to help to build out our footprint across the business community; collaborating closely with brokers, as well as building relationships with local businesses to truly understand not just their lending needs, but their ambitions too. We’re hugely excited to continue expanding across the region and look forward to working with more businesses to support them as they grow.”

ENDS

About Simply

Simply Asset Finance was founded in April 2017 by a team of asset finance specialists, in response to the need for innovation and disruption in the sector. It offers an alternative financial model to banks and looks beyond a balance sheet and credit rating, supported by a digitally enabled customer journey. Simply Asset Finance consider a customer’s potential and work with them to identify and implement the best solution to help them succeed. Their highly experienced sales team is made up of people with extensive knowledge of the industries they lend to. This means they understand the day-to-day challenges that businesses face and the dedicated support teams guide customers through the process, helping them every step of the way.

Simply Asset Finance has lent more than £1.5bn to over 8,500 small and medium businesses across a wide range of sectors including transport, construction, manufacturing, recycling, and agriculture.

For further information about Simply please contact:

Teamspirit

simplyassetfinance@teamspirit.co.uk