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Ashley Finance Bridging Team Lends £1.7m in Record Breaking Month
July sees bridging payouts more than double in year-on-year lending comparison
Manchester based, SME bridging specialists, Ashley Finance saw a record breaking month in July, with payouts totalling £1,769,000. This figure has more than doubled compared to July 2016, in which the total funds lent amounted to £526,945.
Figures from the month include the provision of funds for the redemption of a Reward Capital facility and the conversion of a grade 2 listed building in the North East, that saw the property converted from a commercial build into twelve residential units.
The company, which has seen the team increase by 75% this year, cited the firm’s growth and dedication as a key factor in reaching this milestone.
Liam Cavanagh, Operations Director at Ashley Finance is based at the Head Office in Manchester. He said: “The whole bridging team is over the moon with this record achievement. We’ve enjoyed a really strong first half of 2017. At the close of 2016, the total funds Ashley Finance lent throughout the year equalled £5,828,632.78 – this year, we’ve lent a total of £5,268,904.70 to date, which is fantastic considering its only August.
“The growth and results we’ve seen is ultimately the result of a lot of hard work. Short-term funding solutions shouldn’t be stressful and we pride ourselves on providing a constructive approach.
“We’ve invested time in establishing ourselves with brokers and our dedication to flexible and fast funding has resulted in the creation of some strong customer relationships. Following this record-breaking month, we have high hopes that 2017 will be a record-breaking year.”
Ashley Finance offers a range of products to meet customer cash needs, including bridging loans up to £2million against loan-to-value up to 75%, with rates starting at a competitive 0.95%. The firm also specialises in invoice finance, and business loans which are flexible and open to those SME’s who have struggled getting funding support from other lenders.
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