| Representative APR | Amount | Term | Type |
|---|---|---|---|
| — | £5k–£2M | 12–84 mo | business |
Best For
UK-based businesses looking for substantial funds to finance equipment or other assets.
Established UK businesses needing substantial funding for equipment purchases with stable revenue streams.
Simply Asset Finance offers business loans ranging from £5,000 to £2,000,000 with terms of 12-84 months, focusing on asset finance solutions.
Pros & Cons
Watch Out
High fees may apply if payments are missed, impacting overall loan costs significantly.
Full Review
For businesses requiring swift financing, Simply Asset Finance with its 24-48 hour approval. This is for those needing immediate cash for asset purchases. The loan amounts range from £5,000 to £2,000,000, making it suitable for both small and large enterprises.
The flexibility in terms of 12 to 84 months allows businesses to find a repayment plan that suits their cash flow. However, while the loan appears attractive, be aware of the hidden costs associated with asset financing, particularly if opting for hire purchase or leasing options. Customer service feedback indicates that while the company is part of the reputable Close Brothers Group, there are occasional frustrations around communication during the approval process.
Businesses with lower credit scores may face difficulties securing loans at favourable rates, which could limit options for some applicants. Overall, this product is for established businesses but may not be suitable for startups or those with unstable income.
What Borrowers Say
Customers appreciate the swift approval process but express concerns over communication and varying interest rates based on creditworthiness.
