Ashley Business Cash reports record lending

Manchester-based loan provider Ashley Business Cash has paid out more than £2m to nearly 150 small companies over July and August, breaking its previous records.

The sum is 28% higher than the amount lent during same two-month period in 2014.

The firm’s sales and marketing manager, Lisa Mayers, said: “We are proud to have been able to help so many businesses in the previous two months, despite it [being] the holiday season when demand can often tail off.”

According to Lisa, the company’s client base, which comprises retailers, beauty and hair salons, hospitality enterprises and MOT garages, has been broadening to include consultants, law firms, recruitment agencies and other businesses in the professional services sector.

Commenting on the rise in loans paid out, Lisa continued: “The increase may partly reflect the changes we have introduced as part of our recent improvement programme. We conducted customer research and a product review to find ways to offer better value and service.

“They may also reflect the growing awareness of alternative sources of finance.”

She added: “With the traditional bank loan out of reach for many, small firms are starting to wake up to the fact that there are other finance providers which can offer products more suited to their needs and give them a better service.”

Ashley Business Cash, which is Ashley Business Finance’s loans arm, provides loans and cash advances of up to £100k.