Ashley Business Cash pays out record £2m in two months
Ashley Business Cash – the loans arm of Ashley Business Finance – is celebrating a record two months, having paid out over £2m to almost 150 small businesses during July and August.
The sum represents a 28 per cent increase on the same period in 2014. Ashley Business Cash offers loans and cash advances of up to £100,000, including an innovative option that allows seasonal businesses to make repayments in line with takings. The business repays a small fixed percentage each time a customer pays on credit or debit card until the advance is repaid.
Ashley’s loans have traditionally been popular with hospitality businesses, retailers, hair and beauty salons and MOT garages and clients include many firms which would be unable to access finance elsewhere. However Lisa Mayers, the company’s Sales and Marketing Manager, said the client base was widening, with many recent applicants from the professional services sector such as recruitment agencies, consultants and law firms.
“We are proud to have been able to help so many businesses in the previous two months, despite it been the holiday season when demand can often tail off,” she said.
“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. 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.”