Manchester-based SME bridging lender Ashley Finance said it passed its record for bridging lending in July, with payouts totalling £1,769,000, double its figure for July 2016.
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.
Ashley Finance offers bridging loans up to £2m against loan-to-values of up to 75%, with rates starting at 0.95%. The firm also specialises in invoice finance, and business loans which are flexible and open to those SME’s who have struggled to receive loans from larger funders.
Liam Cavanagh, operations director at Ashley Finance 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.”