Simply Asset Finance loan origination hits £1.75bn as revenues rise 13pc

Specialist business lending provider Simply Asset Finance has surpassed £1.75bn loan origination, it announced today.

It comes as the business recorded pre-tax profits of £8.5m for the financial year ended 31 December 2024, with revenues of £60.4m – an increase of 13pc year-on-year.

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The business also grew its gross loan book to £505m in 2024, it said. It has now served over 11,000 businesses to-date, with more than 22,000 agreements facilitated.

It made a number of operational changes last year, including migrating its loan book to Lendscape’s cloud-native, open-API platform.

Read more: Simply Asset Finance accredited to recovery loan scheme

The business recently reported that its Liverpool office alone had recorded £50m in origination activity since it opened in 2023, while its Belfast office has surpassed £100m in loan origination since it launched in 2019.

“FY2024 has been a year of milestone achievements, and only further underscores the strength of our platform and the demand we are seeing for flexible, SME-first finance,” said Mike Randall, chief executive of Simply Asset Finance.

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“None of this success would have been possible without the dedication of our expert team and the trust of our partners and customers.”