Simply Asset Finance reports £3.2m profit in H1

It provided £152m of funding to UK businesses during the period and completed 1,786 new agreements. 

Its revenue also rose from £18m last year to £24.8m in 2023. Additionally, the lender’s loan book grew by 10 per cent (or £42m) to £459m. 

Simply Asset Finance has gone through a period of growth so far this year, with the opening of a new office in Liverpool and the recruitment of 13 employees. 

This includes six business development executives in the Liverpool office, four area sales managers and two employees who have joined the head office support team. 

The lender said the new hires were strategic to enhance its relationships with commercial brokers and extend its lending to small businesses. 

Mike Randall, CEO of Simply Asset Finance, said: “Having had one of our strongest years yet at Simply, we are more dedicated than ever to serving SMEs and offering them the right support to thrive even during times of economic uncertainty and pressure. Our new hires across the business will bolster our team with new and diverse talent and further support us in this goal. 

“Business sentiment remains strong amongst UK SMEs but it’s important they are given the necessary support and expertise for them to remain the heartbeat of the UK economy. As such, Simply is committed to offering a funding experience that looks beyond the balance sheet and combines our people-led approach with efficiency delivering technology.”