Simply Asset Finance is an accredited lender for the purposes of the government’s Coronavirus Business Interruption Loan Scheme (CBILS). This means it is able to provide business loans to those that have been seriously impacted by the crisis.
Simply Asset Finance is a direct lender (not a broker), authorised and regulated by the Financial Conduct Authority (FCA). Founded in 2017, it provides asset finance to businesses that may struggle to get funding from mainstream banks.
Whether you’re looking to fund new vehicles or machinery, enable expansion plans, consolidate debts or provide an injection of working capital, Simply could help.
With asset finance, you pay a regular amount to use an essential asset for your business over an agreed period. This frees up cash because you’re not having to fund it outright.
Most commonly, asset finance is about getting newer, better equipment for your team, but it can also provide a boost to working capital by unlocking the equity tied up in existing assets.
Simply offers three types of asset finance to suit the individual needs of your business:
This enables you to buy essential equipment and pay for it in instalments, with one final balloon payment.
A finance lease works as a rental agreement, meaning that you don’t own the equipment. Simply buys the asset you need and rents it to you over the duration of the lease contract. At the end of the contract, you can continue renting, return or replace the equipment, sell the asset or return the asset and terminate the rental agreement. In some instances, maintenance costs are included.
This enables you to raise capital for your business by securing a loan against your high value assets. This is usually machinery, equipment or vehicles. You can continue to use the assets while they are acting as security. This can still be an option even if the asset is also being financed by another provider.
The interest rate you are offered will depend on factors like the assets you want to finance, the term of the loan, the performance of your business and its credit rating. You’ll be given a personalised interest rate which may differ from any advertised “Representative APR”.
You can either call Simply Finance or use the contact page on its website to request a callback. An asset finance specialist will get to know your business and talk you through the best options available to you.
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Secure the finance you need to get your company off the ground or get it to the next stage of its evolution with a small business loan.
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Businesses all over the UK face financial instability daily, which often requires outside funding. We have looked into how the state of borrowing for these businesses differs between the industry, over the years, and for the size of the business.
