Innovate Finance represents fintech community in the UK. Credit: Mohamed Hassan from Pixabay

Simply Asset Finance, a provider of asset finance to small and medium-sized businesses, has joined the industry body Innovate Finance, which represents fintech community in the UK.

Unlike banks, Simply Asset Finance says it does not focus only on balance sheet and credit ratings to offer loans, but considers a client’s potential and collaborates with them to find a suitable strategy to support their business plans.

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Commenting on the move, Simply CEO Mike Randall said: “We are really pleased to become a member of Innovate Finance. The community that they have created range from seed stage start-ups to global financial institutions, with one goal to bring together and connect forward-thinking market participants to ensure the UK is leading the global fintech community.”

The company, which was founded in 2017, houses a sales team comprising people with extensive knowledge of the industries they lend to.

The company claims that its sales team members are trained to comprehend the everyday challenges faced by businesses.

It has in place dedicated support teams to guide customers through the process.

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Simply, which has been ranked 31st largest asset finance lender in the UK, has lent over £750m to more than 5,400 small and medium businesses in UK.

The company offers funding to a wide array of sectors including transport, construction, manufacturing, recycling, and agriculture.

Randall added: “At a time when small and medium-sized businesses need more support than ever, it is our strong belief that lenders need to re-think their offering. Simply set out to break down barriers to allow entrepreneurs access to the capital they need. A simplified and digitally enabled relationship with customers is the way forward. “We call it technology with a handshake. To be part of the community that delivers the ideas and component parts that make this possible will help us reach further.”