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Simply does a deal with a story – refinance for an agricultural contractor

Simply is proud to work with many reputable brokers in the asset finance sector. Read on to find out how we worked with Kyle Robertson from Evangate Financial Services on a £230,000 refinance for an agricultural contractor:

This opportunity came to Simply from our broker partner Kyle Robertson who was unable to place it with any other funders on his panel.

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William Devine, broker manager at Simply said: “We like a deal with a story and this one was perfect for us. At Simply, we tend to take a commercial view and look for reasons to say yes to a customer rather than no, and this deal was most definitely a yes! We offered an approval in principle within three hours of viewing the proposal and confirmed the full approval by 10am the next morning once we had our valuations in place. With an 84-month term as requested, the customers cashflow management is now transformed.”

If you are a broker and would like to work with us, give us a call on 0208 0495 575

Simply names 2019 charity of the year – The Grace Dear Trust
Simply, the non-bank lender that was set up in April 2017 in response to the need for disruption in the asset finance sector, today announced that it has chosen The Grace Dear Trust as its first-ever annual charity.

The Grace Dear Trust is a mental health charity which is very close to Simply’s heart. It was set up after losing Grace, a friend of two Simply employees, to suicide in February 2017. Grace was 27 when she took her own life after 14 years of battling depression and anxiety & feeling like there wasn’t anyone she could turn to.

The charity was chosen after a shortlist of charities was put to a company-wide vote.

Simply has already kicked off its fundraising efforts with a bang – at a recent staff event, it raffled 17 prizes, generously donated by the company’s partners*, and raised over £3000. Future events are being planned and are likely to include sponsored runs and other sporting events. Simply will match all monies raised throughout the next 12 months, pound for pound.

Mike Randall, CEO, Simply said: “This charity is very personal to us – two of our employees knew Grace – and it supports an incredibly important cause by helping young people with mental health issues. It is estimated that 75% of mental illnesses start before a child reaches their 18th birthday and 50% of mental health problems in adults take root before the age of 15. A significant one in ten young people are affected and many suffer without the help they need. We hope that with our support, the Trust will be able to raise further awareness of this issue, fund school counsellors and create a network of professionals that young adults can reach out to.”

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Ylva Oertengren, COO, Simply, is named ‘Innovator of the Year, Creditor’ at the 2019 Women in Credit awards

“I was honoured to be named ‘Innovator of the Year, Creditor’ at the Women in Credit awards last week. Simply was founded on a culture of innovation and a strong conviction that everything starts with the customer.My job was to bring together the best technology with the best people to reinvent the customer journey to help our customers grow and prosper.  I’m very proud of the work we do as a team and this award belongs to the exceptional people I have the privilege to work with. It was a truly inspirational event with so many amazing women being recognised, putting the spotlight on all the spectacular leaders and role models in our industry,”

Ylva Oertengren, COO, Simply

Click here for more information on all winners

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Simply Asset Finance becomes ‘Simply’ in major brand refresh and moves into new office

Simply Asset Finance, the non-bank lender that was set up in April 2017 in response to the need for disruption in the asset finance sector, today announced that it has rebranded as ‘Simply’ with a new look and feel across all channels.

To coincide with its brand refresh, Simply has also moved into bigger premises at Embassy Tea House, a refurbished warehouse in Union Street, London.

The new brand identity represents Simply’s evolution from start up to established player in the industry. As part of this, it has identified three key pillars – innovation; simplicity; and believing in potential – which reaffirm Simply’s commitment to bringing positive change to the market and its customers.

 

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Mike Randall, CEO, Simply, commented: “Our new brand is about keeping things simple. That’s why everything we do now and from this point forward will be brought together under one clear identity – ‘Simply’. We want to inject energy into the sector in a way that reflects our approach and personality. We are well-established with a great and growing reputation, so being clear on who we are is more important than ever, particularly as we reinforce Simply’s purpose to be one of the most forward-thinking providers and transform the customer experience through innovation.”

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John Wiles, Sales Director, continued: “Since Simply was launched, our aim has been to do things differently. It’s all about ease and speed; understanding and partnering with our customers and building a business to service their requirements. Part of our ethos is to make things simpler and more transparent for them and enable them to get the necessary finance in place as soon as possible. This is 100% more effective when we link the very best people with the latest tools – we call this ‘technology with a handshake’.”

Simply’s new brand positioning was developed in conjunction with Deep, a London-based independent creative agency specialising in emotive branding, digital and design for premium and luxury brands.

Simply Asset Finance launches into Northern Ireland with Head of Sales appointment
Simply Asset Finance today announced that it has appointed Gary Coburn as head of sales for Northern Ireland. This marks the official move of the provider into the region following a year of impressive growth.

Gary has 20 years’ industry experience and joins Simply after nine years at Close Brothers Asset Finance where he was responsible for the Northern Ireland Asset Finance sales team. In his new role, Gary will have full responsibility for Simply’s offering in Northern Ireland and will contribute to the overall growth strategy of the business, helping the business to achieve further success in the UK.

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Commenting on the new appointment, Mike Randall, CEO, commented: “Gary is the latest senior appointment at Simply and he brings valuable regional knowledge to the team. We already work with customers in Northern Ireland, but our offering will be even more compelling to SMEs if they can connect with someone who is on the ground and lives and breathes their needs. We are very pleased to have Gary on board and I have every confidence that he will do a superb job of supporting our business and its continued ambitions.”

Gary added: “This is great news for businesses within Northern Ireland; by establishing a local presence here Simply Asset Finance will be able to support the funding needs of local small and medium sized enterprises. The market is wellprimed for a new funder and there is a growing demand for SME finance – particularly from a provider that offers flexible terms and excellent service. The role represents a challenge that I am looking forward to getting my teeth into – supporting the local business economy, expanding our business and continuing to deliver the best customer journey across the markets in which we operate.”

 

 

British Business Bank doubles Simply Asset finance’s facility

Simply Asset Finance today announces the agreement of a second tranche of its asset finance facility from the British Business Bank, that will enable the asset finance provider to significantly expand its lending to small and medium-sized businesses across the UK. Together, the two rounds of financing will provide more than £120m of funding.

In the 17 months since it was established, Simply Asset Finance has grown significantly and has further plans for sizeable growth over the next six months. It now employs more than 50 people and its customers come from a variety of sectors – including manufacturing, construction, transport and recycling.  Simply has facilitated more than 1,000 finance agreements – to the tune of around £100m – in the last year, all to UK SMEs, the all-important engine room of the country’s economy.

Mike Randall, CEO of Simply Asset Finance, said: “This second – and very significant – tranche of investment from the British Business Bank comes at an exciting time for us. The market opportunity is considerable and we’re growing rapidly – yet steadily – to be able to take advantage of that. Essentially, we’re normal people doing business with normal people, but supported by up to date technology – and that is a main component in setting us apart from our competitors. For us, it’s all about the customer experience, their journey and the speed of our decision-making, all supported by agile, up to date tools. We believe that Simply Asset Finance is a game changer in the asset finance industry.”

 

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Keith Morgan, CEO of the British Business Bank, said: “As the UK government’s economic development bank, the British Business Bank increases both the supply and diversity of finance available to growing businesses. Our 2018 Small Business Finance Markets report highlights the increasing importance of asset finance to smaller businesses, with the value of such finance increasing by 12% from 2016 to 2017. This additional funding through Simply Asset Finance will enable more businesses to source the new or replacement equipment they need to expand and fulfil their growth potential.”

Richard McDougall, Partner at Cabot Square Capital, concluded: “The distance that Mike and his team have travelled in the last year– from setting up the business from scratch to building a growing and successful business – is very impressive, and we are delighted to be their partners on this journey. Simply has received a very positive response from the industry and from customers alike, and the firm is developing into one of the most respected asset finance lenders in the market.”

Update to regulatory status

Simply Asset Finance has obtained authorisation from the Financial Conduct Authority (FCA) to conduct regulated business.

Therefore, Simply Asset Finance is no longer operating as an appointed representative of LDF.

‘We thank LDF for the support up until now,’ says CEO Mike Randall. ‘We are continuing to build our offering to the UK SME market, and this is another significant step on our journey. For our customers and partners, it is business as usual.’

The reference numbers are:

Simply Asset Finance Operations Limited:  FRN 798195
SAF1 Limited:  FRN 799893
SAF2 Limited:  FRN 799921
SAF3 Limited:  FRN 799913

Hillhead
Simply Asset Finance is excited to announce that it will be exhibiting at the UK’s premier event for quarrying, construction and recycling – Hillhead 2018.

Located in a limestone quarry in the heart of the Derbyshire countryside, come and visit us on Stand RB19 located in the entrance pavilion.

Our team of industry specialists will be available to discuss your financial needs for the duration of the event. Moreover, a member of our credit team will also be present to underwrite your deal during the event, so don’t miss out on this opportunity!

Throughout the event we will be running a daily competition – to keep up to date with announcements visit our LinkedIn page or follow us on Twitter.

To make an appointment in advance or talk to one of our industry specialists, please call our London offices on 0203 369 6000 and we will direct you to your local plant expert.

We look forward to seeing our members and customers alike at the exhibition.

Date:  26-28 June 2018
Location: Hillhead Quarry Buxton, UK
Stand Number: RB19

Simply Asset Finance receives £20m block drawing from Aldermore

Simply Asset Finance, a new lender to the SME market, today announced that it has received a £20m block discounting package from Aldermore, the specialist bank.

The facility, believed to be one of the largest in the market, will help Simply Asset Finance to greatly increase the supply of leasing and asset finance it provides to small and medium-sized enterprises in the UK looking to realise their growth potential.

Founded in April 2017 by a team of industry specialists with over 200 years’ combined experience, Simply Asset Finance is led by Mike Randall and backed by Cabot Square Capital. It provides a range of flexible finance options – including hire purchase, finance leases and refinance – to SMEs in the UK, many of them owner-managed or family-run. The company has already arranged more than £35m of financing across a variety of sectors including manufacturing, construction, transport and recycling.

 

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Mike Randall, CEO of Simply Asset Finance, says: “Non-bank lenders are taking an ever-increasing share of the SME finance sector and block discounting is an important part of this. SME growth has a significant impact on the UK economy and the package that the experienced and specialist team at Aldermore has provided us with will enable us to further support those businesses that are vital to the country’s prosperity.”

Hywel Prewett, business development manager at Aldermore, says: “To date we have extended over £240 million in block discounting facilities to the market and we are delighted to be able to provide this significant amount to Simply Asset Finance’s lending operations, which will in turn broaden our reach to a wider range of businesses across the country. Simply Asset Finance’s business culture – based around helping SMEs in both good times and bad – is very similar to Aldermore’s and because of this fit, we look forward to this being a long and successful relationship.”

Mach 2018

We are excited to be exhibiting at the UK’s premier event for manufacturing – MACH 2018 – for the first time.

Organised by the MTA, MACH is the ultimate showcase for the latest products and developments in the advanced manufacturing and engineering sectors.

Attracting over 25,000 visitors across the duration of the show, it is the place to see new innovations from all sectors of manufacturing including aerospace, automotive, defence, power generation, medical and oil and gas all under one roof.

Come and see us on Stand H20-23 located in Hall 20 where our team of industry specialists will be available to discuss your financial needs for the duration of the event.Alternatively, if your time at the show is limited and you would like to make an advance appointment, please call Chris Etherington on 07506 669669.

Date:  9-13 April 2018
Location: NEC, Birmingham
Stand Number: H20-23 located in Hall 20

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