Local lender ART increases maximum loan size by 50%

ART (Aston Reinvestment Trust) has increased the maximum size of the loans it offers to £150,000.

The Birmingham-based lender says it is esponding to increased demand from businesses unable to access the finance they need from the banks.

Steve Walker, chief executive of ART, said: “We have continued to lend at record levels over the past few months and are approving applications from businesses which the banks would have supported in the past. 

“The market is changing and ART is changing with it.  We have secured more money to lend, extended our reach across the West Midlands and have now taken the decision to increase our maximum loan size from £100,000 to £150,000.”

ART is a Community Development Finance Institution, committed to providing fair finance to businesses looking to create or protect jobs but unable to secure any or all of the finance they need from the banks. 

“Quite often the banks have lent all they can already so we lend alongside them and other funders as part of a package,” said Walker.

“There has been a huge increase in recent years in schemes introduced to support high-growth and large businesses, but over 99% of businesses in the UK are small to medium sized and it’s those that ART is here to support.”

ART lends to businesses in all sectors, including retail, for any business purpose, including to support cashflow. 

 

Close