After its most successful year, Simply Factoring Brokers has awarded Philip Smith the title of ‘Invoice Finance Broker of the Year 2016'.

The achievement is made more remarkable because Philip joined the Newport brokers in February 2016 and outshone experienced brokers during his first eight months.

Mark Francis, presenting the award, attributed Philip’s success to his unwavering commitment to helping local businesses succeed.

He said: “Philip is first to the office in the morning and for him, the day doesn’t end at 5pm. Phil doesn’t rest until the job is done and the customer has the finance they need.”

Philip’s award coincides with the invoice finance specialist’s increased product range.

The brokers, which are based at Gold Tops, began in the asset finance market and evolved to offer invoice factoring because of demand for the product. Now, they are capitalising on new and existing relationships by arranging commercial loans, overdrafts and trade finance.

New appointments over the course of 2016, along with additions to Simply Factoring’s approved panel of funders, means they now have the in-house experience to offer a product range to meet the needs of any size or type of business.

Mark Francis has spent the last six months forming key strategic partnerships by attending exhibitions and networking and is confident that Simply Factoring Brokers are well equipped to grow substantially in 2017.

Mark has many connections from his more than 30 years at Barclays, who have proven instrumental in his ability to develop revenue streams. Managing Director, Steven Adams has also utilised his influence with commercial banks and alternative lenders to cement Mark’s new strategic partnerships.

Steven Adams said: “2016 was all about righting the wrongs of the past. Recent years have taught me a lot about what makes a finance brokerage successful and recruiting is key. Character, loyalty and tenacity are at the forefront of our recruitment strategy and our continued expansion is proof that our efforts work.”

Simply Factoring are recruiting four new telesales staff to work on new product lines and to ensure the new partnerships have a consistent supply of new customers. Interviews are taking place in the second and third week of March.