Simply Asset Finance Secures £120m Loan Facility From Bank of America
Summary
Bank of America identified Simply Asset Finance as a credible, and valuable, partner due to its highly experienced management team and exceptional growth potential. The business has a team of 155 experts across the country and in 2023 it further extended its national footprint, opening an additional sales centre in the business district of Liverpool which celebrated \xa37 million in advances in its inaugural year.Founded in 2017 by a team of asset finance specialists, Simply Asset Finance delivers a digital path to finance for small and medium sized businesses across the UK looking beyond the balance sheet to empower its clients to realise their business potential.Stefan Wolvaardt, Simply Asset Finance CFO, said: This level of commitment from the Bank of America marks a significant milestone for us at Simply. Identifying us as a key growth partner within the Asset Finance market is testament to the strength of our approach to business lending. Weve created a digital path to finance through our industry-leading technology paired with our team of experts which sets us apart.With the potential to grow this facility even further, Simplys offering will be core to Asset Finance provision across the UK, allowing businesses to realise their potential, grow and thrive.Andrei Cotonet, Director at Bank of America, said: We are proud to announce the successful closure of a new lending facility with Simply Asset Finance designed to provide financial resources needed to invest in critical assets and achieve sustainable growth across the UK. The development underscores our unwavering commitment to supporting one of the leading UK Asset Finance lenders in its future growth plans.