Simply Asset Finance, the specialist business lending provider, has surpassed a £0.5bn loan book milestone as demand for small and medium sized enterprise (SME) lending and technology sees significant growth.
The business reported its H1 results, which saw £14m added to its loan book and revenues of £29.1m achieved.
In a strong first half of the year, with 9,663 lending agreements live since January 2024, Simply Asset Finance has now funded over 22,109 assets for businesses across the UK, growing its reach to serve over 8,300 customers.
In the first half of 2024, Simply Asset Finance’s total cumulative loan origination also reached £1.4bn, up from a total of £1.3bn at the end of 2023.
Simply’s growth has been driven in part through its proprietary technology platform, ‘Simply Connect’, which provides its customers, broker panel and partners with end-to-end lending capabilities, user interface, workflow and loan management.
In addition to serving Simply’s own customers and broker partners, the technology is offered as a white-labelled solution and has been successfully integrated by three significant lending partners.
Mike Randall, CEO at Simply Asset Finance, said: “Simply’s continued strong growth, exemplified by our achievements in the first half of 2024, underscores our commitment to meeting the evolving needs of UK SMEs.
“This is a huge milestone for us as a business, and is a testament to the dedication and expertise of our teams nationwide.
“Simply is committed to empowering UK SMEs to achieve their full potential. As we now look to the final half of the year, our recent partnership with Bank of America, and accreditation to the Growth Guarantee Scheme, only reinforces our dedication and ability to provide tailored and pointed support to the businesses that need it most.
“We are proud to support the backbone of the UK economy and look forward to driving growth and prosperity alongside our valued current and future customers.”