Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Business

Simply Asset Finance Secures £120m Loan Facility from Bank of America to Boost UK Business Lending

by June 28, 2024
June 28, 2024
Simply Asset Finance Secures £120m Loan Facility from Bank of America to Boost UK Business Lending

Simply Asset Finance has announced a major milestone, securing a £120 million loan facility from Bank of America. This new facility, initially set at £60 million with the potential to expand to £120 million, will significantly enhance Simply Asset Finance’s capacity to fund businesses across the UK.

The agreement strengthens Bank of America’s position as a key player in UK asset finance and underscores its confidence in Simply Asset Finance’s experienced management team and growth potential. The facility will enable Simply Asset Finance to increase its lending to UK businesses by 30% and boost its originations by approximately £100 million within the first year.

Simply Asset Finance recently reported FY2023 profits of £5.5 million and revenues exceeding £52 million. Since its founding in 2017, the company has financed over 7,400 customers through 15,161 agreements, with total loan originations now reaching £1.3 billion. The company has expanded its national footprint, including opening a new sales centre in Liverpool, which achieved £7 million in advances in its first year.

Stefan Wolvaardt, CFO of Simply Asset Finance, remarked, “This level of commitment from 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. We’ve created a digital path to finance through our industry-leading technology paired with our team of experts which sets us apart.”

Founded by asset finance specialists, Simply Asset Finance has been delivering innovative financing solutions for small and medium-sized businesses across the UK. The company’s approach looks beyond the balance sheet, empowering clients to achieve their business potential through accessible and efficient financing options.

Andrei Cotonet, Director at Bank of America, commented, “We are proud to announce the successful closure of a new lending facility with Simply Asset Finance designed to provide the financial resources needed to invest in critical assets and achieve sustainable growth across the UK. This development underscores our unwavering commitment to supporting one of the leading UK asset finance lenders in its future growth plans.”

This strategic partnership between Simply Asset Finance and Bank of America is set to provide substantial benefits to UK businesses, fostering growth and innovation in the asset finance sector.

Read more:
Simply Asset Finance Secures £120m Loan Facility from Bank of America to Boost UK Business Lending

0
FacebookTwitterGoogle +Pinterest
previous post
Private school fees: Schools need to act now to avoid huge tax liabilities in the future 
next post
What to do when you’re free and bored at home: 30plus life hacks and ideas for us

You may also like

Why Vaping is a Great Alternative for Quitting...

January 13, 2024

Why THC Gummies Is the Next Big Thing...

October 24, 2024

Soaring inflation ‘as bad as Covid’ for hospitality...

January 20, 2023

Can Sir Ranulph Fiennes and Ella Henderson take...

January 9, 2024

UK high streets risk becoming ‘wastelands’ with 15,000...

August 17, 2023

Octopus EV silently speeds past £1 billion electric...

December 4, 2023

Parcel firms still responsible for dodgy deliveries according...

November 18, 2022

UK tech sector retains third in the world...

December 21, 2022

Is the era of expensive gold over?

November 13, 2024

Better PR for your business’s growth

October 3, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Musk jokes about reconsidering stance on Big Beautiful Bill after Schiff’s praise

      June 7, 2025
    • Musk deletes explosive posts about Trump and Epstein files

      June 7, 2025
    • House witness flips script on Dem who ambushed him during hearing with unearthed tweet: ‘Iceberg is ahead’

      June 7, 2025
    • Call with China’s Xi, and Trump-Musk exchange fueled barbs during 20th week in office

      June 7, 2025
    • Trump’s conservative allies warn Congress faces critical ‘test’ with $9.4B spending cut proposal

      June 7, 2025
    • Tech ETFs are Leading Since April, but Another Group is Leading YTD

      June 7, 2025

    Categories

    • Business (8,152)
    • Investing (2,019)
    • Politics (15,567)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved