Simply Asset Finance hits £200 million Scottish lending milestone

Simply Asset Finance opened its first office north of the Border in 2021 and has supported more than 1,200 Scottish businesses, completing 2,700 funding deals across sectors including construction, transport, manufacturing and engineering. In total, it has now provided £200m of funding to businesses across the country.

The milestone comes after last month marked the fifth anniversary of William Devine’s appointment as the lender’s head of Scotland - formalising Simply’s dedicated Scottish operation and building on its existing presence in the country.

What began as a two-person team has grown into 11 specialists working directly with businesses across Scotland. Simply Asset Finance was established in 2017 to support small and medium-sized enterprises (SMEs) across the UK.

The firm said that, alongside direct lending, it was continuing to grow its network of dealership and vendor partnerships across Scotland, helping to expand its reach.

Devine said: “This milestone is something we’re incredibly proud of. It reflects the trust businesses across Scotland have placed in us and the fantastic team we’ve built over the past five years.

“Scotland now represents a significant proportion of Simply’s lending portfolio, and despite the challenges many businesses continue to face, we’re seeing real resilience and ambition. Businesses are still looking to invest, expand and seize new opportunities, and we’re here to help make that happen because our success is built on theirs.

“We’re excited to keep building on that momentum over the years ahead,” he added.

The firm said its growth had been underpinned by becoming a funding partner for firms helping deliver the country’s “infrastructure and industrial ambitions”, including electricity grid upgrades and oil and gas decommissioning.

John Wiles, managing director at Simply Asset Finance, said: “Scotland continues to be one of Simply’s strongest growth regions, and it’s encouraging to see such strong demand from ambitious businesses looking to invest for the future.

“The strength of our local team, combined with our growing network of partners, means we’re able to reach more businesses than ever before with the flexible finance they need.”