Simply Asset Finance review: hire purchase, leasing and asset refinance for UK businesses

Simply Asset Finance, usually just called Simply, is a London based specialist lender set up in 2017 to fund British businesses through hire purchase, finance leases and asset refinancing. It has grown quickly and is known for funding hard-working assets in sectors such as construction, agriculture, transport and manufacturing. Smart Funding Solutions is an independent broker and is not part of Simply. Simply is one of the lenders on our panel, so we can compare its proposal with other asset finance providers for your deal.

01About Simply Asset Finance

Simply was founded in April 2017 by a team of asset finance specialists. It is majority owned by a fund managed by Cabot Square Capital, and its funding lines have included facilities from the British Business Bank and a £120 million facility from Bank of America announced in 2024. In January 2026 it reported passing £2 billion of total loan originations.

Its head office is on Great Suffolk Street in London, and it has added regional teams over time, including Liverpool, Northern Ireland and Glasgow. Simply's message is that it looks at a business's potential and not only its credit score or balance sheet, combining technology for quick decisions with experienced people who understand the assets involved. It also runs a dedicated platform for brokers.

02What Simply Asset Finance funds

Sizes and terms are indicative and depend on the asset and your business. If you are deciding between owning and leasing, our explainers on business hire purchase and the finance lease set out the differences in ownership, VAT and tax treatment. Our guide to the Growth Guarantee Scheme explains how government backing works.

Simply's equity release product is useful when you already own valuable kit outright. You keep using the equipment while borrowing against it, and Simply says this can help consolidate other borrowing or fund items that are hard to finance on their own, such as software. Our page on asset refinance explains how lenders usually value assets for this.

Simply lists target sectors including agriculture, bus and coach, construction, engineering, manufacturing, materials handling, packaging, print, transportation and recycling. It also mentions less common assets such as marine, aviation, scaffolding, holiday lodges and broadcast technology.

03Who Simply Asset Finance suits (and who it may not)

• Good fit: businesses buying or refinancing hard assets with a good resale value, such as plant and machinery, commercial vehicles and production equipment.
• Good fit: larger tickets, where Simply has the capacity to fund well into six or seven figures.
• Good fit: businesses whose accounts do not fully reflect their prospects, given Simply's focus on potential.
• Less likely to fit: very small purchases under about £15,000, where small ticket lenders are usually quicker.
• Less likely to fit: pure working capital needs with no asset involved.

04What Simply Asset Finance looks at

Simply does not publish a criteria checklist. For asset finance of this size, lenders typically ask for:

• Details of the asset: supplier quote, age, condition and expected working life.
• The latest filed accounts and recent management figures.
• Business bank statements, often for three to six months.
• A summary of existing finance agreements.
• Background on the business, its customers and how the asset will earn its keep.

For larger deals, a short narrative explaining the purchase and the expected return on it often makes a real difference, especially with a lender that says it backs potential.

05Pros and cons

Pros

• Specialist in hard assets across a broad range of sectors.
• Capacity for large deals as well as mid sized ones.
• Strong institutional funding lines behind the business.
• Offers equity release on assets you already own.
• Regional teams across the UK, including Scotland and Northern Ireland.

Cons

• Not designed for small ticket purchases.
• Asset focused, so not a fit for unsecured working capital.
• Younger than the bank owned asset finance houses.
• Pricing reflects the asset and the risk, so comparison is important.

06Applying through a broker vs going direct

Simply works closely with brokers, and asset finance pricing and structure vary a lot between lenders. The deposit, balloon, term and any security asked for can all differ for the same machine. A broker can line up Simply's proposal against other specialists and the bank owned lenders, so you choose on the full picture.

We search the market, present your deal and the asset clearly, and manage one application. It is free to enquire; any broker fee is disclosed separately before you proceed. Get started with our Instant Quotes tool to compare lenders in minutes.

07Alternatives to Simply Asset Finance

• Close Brothers is a long established, bank owned asset lender worth comparing for plant, vehicles and machinery.
• Lombard may suit businesses that want an asset finance provider within a large banking group.
• Time Finance can be a good alternative for smaller deals or businesses that also need other types of funding.

Find out more on Simply's website. You can check any finance firm on the FCA Register.

Simply works closely with brokers, and asset finance pricing and structure vary a lot between lenders.