Ashley Business Finance launches new bridging loans
Ashley Business Finance, which specialises in finance solutions for smaller firms, has extended its product range with the addition of bridging loans.
Ashley’s bridging loans are designed for situations where urgent funding is required and can be used not only to secure a property, but for any time-sensitive transaction. They provide up to 70% of the forced sale value of a property, from a minimum of £25,000 to a maximum of £300,000, over a period of three to 12 months.
As decisions are based on the property value, and not necessarily credit rating, they are accessible to many businesses which would otherwise be declined. Ashley can provide a decision within 24 hours in most cases and can tailor the loan to suit specific needs.
Lisa Mayers, Ashley’s Sales and Marketing Manager, said: “A bridging loan is designed to quickly ‘bridge the gap’. While Ashley’s new bridging loans are ideal for developers, landlords and people buying property at auction, they can also be used for any business purpose such as refurbishments, redevelopment or to provide temporary cashflow.
“With 22 years’ experience, we have worked with many different types of businesses and have the expertise to fund where other lenders wouldn’t.”
Applicant must be based in England or Wales and provide proof of income. Under the terms of the loan, Ashley will take a second charge over the property.