Bridging Finance success in 2017
Strength of bridging team sees new business grow by 95% in year-on-year comparison
We are delighted to announce significant new business growth for our bridging loan product, with a 95% increase in new customers compared to 2016, including a milestone loan of £2.2m – the largest to date – following a launch in Scotland and an increased investment in the team.
New hires, which saw the bridging team double in size, include industry expert, Dawn Trustam and Kayley Stelfox. In her role as Regional Sales Director, Dawn provides a much-needed presence for brokers and SMEs in the south of England.
Following a successful pilot, we launched our bridging finance product into the Scottish market, with plans for it to be further developed in 2018.
The team cited its improved speed and flexibility as key factors in its recent success. The bridging team has paid out deals in as little as four days – from the initial enquiry to the release of funds – and takes pride in being significantly quicker than the industry average completion time of 50 days.
Liam Cavanagh, Operations Director at Ashley Finance said: “We’ve had a stellar year. The whole team are delighted with these results. Bridging was a key growth area for the company this year and is anticipated to continue as we progress further into 2018.
“While the huge increase in new business is definitely the result of the hard work and dedication of our bridging team, it also highlights the need for an open-minded lender like ourselves in the market. In the last year this need has become widely recognised with more brokers coming on board than ever before, which is extremely encouraging.
“Ashley Finance is dedicated to delivering fast and flexible funding to all small businesses that need it and without judgement. Following this fantastic year, we have high hopes that growth will continue into 2018 and beyond.”
At Ashley Finance we provide bridging loans up to £2million against loan-to-value up to 75%, with rates starting at a competitive 0.95%. As well as bridging finance for the commercial market, we also offer a range of business funding products to meet business cash needs. We specialise in invoice finance and business loans which are open to those SMEs who may have struggled to get funding support from other lenders.
For any enquiries please contact the bridging team or call 0161 233 6380 (option 3).