Independent financial services broker Midlands Asset Finance has launched an online platform called ‘Asset Finance Compared’ which aims to simplify the process of sourcing and applying for asset finance for SMEs.

Midlands said SMEs are required to provide basic details about the business and amount to finance, details of the asset or assets that they are looking to purchase and then they obtain an automated, instant quote.

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The site analyses the information entered and undertakes various checks and references to data before issuing an instant quote. The funder which best matches the customer’s requirements in terms of asset category, credit appetite and price, depending upon the customer’s financial standing, is chosen.

Once a quote has been accepted, Midlands Asset Finance handles the deal with the funder.

Dave Chapman, director of Asset Finance Compared, said: “Our new Asset Finance Compared website will completely transform the way that businesses source and secure asset finance facilities of up to £100,000, with an instant quote being offered. Having undertaken various checks within the platform, we can supply the quote with confidence for established businesses.

“The three simple steps to finance, and the handling of everything in-house, will save the customer valuable time and resource which can be diverted elsewhere.

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“The team here has many years’ combined banking and asset finance experience, with an aim to deliver an unparalleled service and to make asset finance simpler and more accessible to clients across the UK.

“Asset finance remains an essential part of the UK’s investment recovery and we are striving to support businesses in increasing their capacity to invest. We also understand that the pace of change is so fast that being able to trade digitally is essential to support customers’ growth and investment plans.”