Simply Asset Finance has made five senior promotions, including John Wiles, who was sales director, to the role of managing director.

Chris Etherington and Dave McCormack were promoted from national sales managers to sales directors. Louise Simmonds and Richard Happer were promoted from area sales managers to regional sales managers.

Mike Randall, chief executive of Simply, said: “These promotions at the start of our new financial year point to our continuing growth and commitment to serving the UK SMEs. All five individuals have been with us from the beginning of the Simply journey and it’s great to recognise their expertise and dedication.

“We’ve always said our greatest asset is our people,” he added.

In October, Simply received an increase to its funding line from specialist lender Aldermore bringing the total facility to £30m.

In March 2018 Simply received a £20m block discounting facility from Aldermore, the additional £10m granted in October made Simply one of Aldermore’s most significant block funding partners.

Randall said of the funding at the time: “As a new start company, we were fortunate that Aldermore could support us with a funding line in our first year of trading. Good working relationships are a core part of any partnership.”