Simply Asset Finance has announced plans to begin listing third-party assets on its website to expand the range of vehicles and machinery available to potential buyers.
The non-bank lender is also looking to help existing customers and partners sell the kit they no longer need.
Simply Stock, a facility on the company’s website, will act as its ‘used assets for sale’ page and will take a curated approach to how items are selected, the company said.
Equipment will be selected to keep quality high with finance available for purchased stock.
The third-party assets will have an expiry date of one month before they are handed back to the owner for alternative sales routes.
Over time Simply plans to add more assets after looking at how popular certain pieces of kit are.
Buyers will be able to search the asset type and location, and once they have found an asset of their liking, a relevant sales manager will put them in touch with the seller.
Mike Randall, chief executive of Simply, said: “We set up Simply in order to support SMEs across the UK and, whilst funding is our heartland, we are always looking for additional ways to help customers and partners. Simply Market is a natural evolution of what we already do with Simply Stock – connecting assets with buyers.
“Buyers will now have access to a greater range of assets and sellers will be able to market their equipment to a wider audience. It’s all about creating a more efficient customer experience,” he added.