Simply Asset Finance strikes lending pact with Lombard

Simply Asset Finance has formed a lending partnership with Lombard, part of NatWest Group.

The arrangement is designed to extend Lombard’s reach in lending to small and medium-sized businesses, with Simply originating business through its platform and distribution network. In the initial phase, Simply will access a Lombard wholesale facility to be deployed over a three-month period.

Approved SME customers will be able to access finance through Simply’s digital lending process, including its AI agent, Kara. The system supports processing and distribution to businesses across the UK through a network of local specialists and vendor relationships.

The partnership brings together a specialist non-bank lender founded in 2017 and one of the UK’s biggest names in asset finance. Simply has lent more than £2 billion to more than 13,000 small and medium-sized businesses in sectors including transport, construction, manufacturing, recycling and agriculture.

SME focus

The deal comes as lenders look for ways to reach smaller businesses more quickly and through a broader range of channels. Asset finance remains an important source of funding for companies buying vehicles, machinery and equipment, particularly in sectors where access to working capital can shape expansion plans.

Andrew Kilheeney, Managing Director, Wholesale and Specialist Businesses at Lombard, part of NatWest Group, said, “SMEs across the UK need fast, reliable access to finance to manage uncertainty and pursue growth. By partnering with Simply, we are combining Lombard’s strength with an innovative, technology-led platform to help more businesses access the funding they need to succeed.”

“Lombard has a proven track record of working with industry specialists to create partnerships that add value to our customer proposition. A special thanks goes to the multiple teams across Simply, NatWest and Lombard that supported the delivery of this partnership.”

Simply has positioned itself as a lender that looks beyond standard balance-sheet measures when assessing borrowers, using a digital application process and sector-specific expertise. Its sales teams are drawn from the industries it serves, and lending is focused on practical business assets and equipment.

For Lombard, the partnership offers another route into specialist and scale-up segments of the SME market without relying solely on direct channels. The model also reflects a broader trend in banking and specialist finance, where established lenders work with fintech and non-bank platforms to widen distribution and improve origination.

Origination model

Under the arrangement, Simply will drive origination and distribute funds to eligible businesses nationwide. The structure combines Lombard’s funding strength with Simply’s front-end lending technology and local market coverage.

The announcement did not disclose the size of the wholesale facility. It added that further development of the partnership is intended to increase the amount of lending available to UK businesses through a combined offering from both firms.

“We are incredibly excited to be able to join forces with Lombard through this partnership. The combination of our market leading capabilities and Lombard’s track record as the largest provider of asset finance will not just super-charge our ability to help SMEs achieve their growth ambitions but also unlock new pools of business and reach new customer segments. This origination will be key to driving UK growth.,” Ylva Oertengren, Co-Founder and Chief Operating Officer, Simply Asset Finance, said.