Business lending solutions provider Simply Asset Finance’s Northern Ireland office has exceeded £100m in total loan origination, supporting regional small and medium-sized enterprises (SMEs).
The move marks a significant growth milestone for the company in Northern Ireland.
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Since its establishment in May 2019, the Belfast branch of Simply has financed over 1,800 loan agreements for upwards of 700 SME clients.
This allows the clients to acquire more than 2,900 assets to propel their business growth.
The office has grown to a team of six, including sales representatives and broker development managers. The growth in Northern Ireland has been partly fuelled by Simply’s collaboration with the British Business Bank.
As an accredited provider, Simply has been involved in lending as an accredited provider in the Recovery Loan Scheme (RLS), Coronavirus Business Interruption Loan Scheme (CBILS), and the Growth Guarantee Scheme (GGS).
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By GlobalDataThrough forming strong partnerships with commercial brokers and the work of its local specialists, Simply has made its innovative lending solutions to both burgeoning and established businesses across Northern Ireland.
In August 2024, Simply announced it had exceeded a £0.5bn loan book, with a total cumulative loan origination reaching £1.4bn in the first half of 2024.
Additionally, the company secured backing from Bank of America with a £120m loan facility in June.
Simply Northern Ireland sales head Gary Coburn said: “As we look ahead, we’re committed to supporting them with tailored lending solutions, helping them thrive and continue driving our economy forward.
“I’m reminded daily of the ambitious nature of the SMEs we work with, and look forward to seeing their growth plans become a reality in the coming months and years.”
Simply CEO Mike Randall said: “Northern Ireland is an important market for us as a business. The progress that has been made in the last few years is only a testament to the demand for quality, targeted lending among businesses in the region.”
The growth in Northern Ireland has been partly fuelled by Simply’s collaboration with the British Business Bank.
