Asto Business Capital loans are now available on finance options under a new partnership with the business finance market.
The Santander-backed digital platform joins Funding Options’ list of more than 200 lenders, offering loans ranging from £ 150 to £ 150,000 to help small businesses grow or fill urgent cash gaps.
With Asto Business Capital, clients stay in control by being able to apply for an upfront, no-fee, no-obligation credit limit, so they know how much their business can borrow. Businesses don’t need to use their entire credit limit at once, borrow only what they need, and can choose their repayment period from 6 to 12 months. Businesses can repay their loan at any time without incurring a prepayment charge and can restart borrowing up to their credit limit whenever the opportunity presents itself. Asto Business Capital loans do not have a minimum turnover threshold, which means even start-ups can apply to secure short-term funds.
Access to small business-friendly loans has been made possible through Funding Options proprietary technology, which uses a unique algorithm and open banking to match businesses with the right loan options based on their eligibility and location. their needs. The time-saving platform allows businesses to shop around for their short or long term financing needs, whether it’s growing their business or taking advantage of new opportunities.
As UK businesses reopen following the lockdown imposed by Covid-19, the need for short-term working capital will increase. Last week, thousands of independent businesses and non-essential retailers opened, with the government planning to allow hospitality and leisure businesses to reopen from July 4.
In a climate where small business finances are under great pressure, flexible and less costly solutions will be essential. Funding Options has built a reputation for helping small businesses access financing quickly, with its record for approval requests of just 11 minutes. Likewise, once a business has been offered a credit limit and the customer is satisfied with the terms, Asto Business Capital loans typically arrive on accounts within minutes.
Both companies have invested heavily in their hybrid models, combining smart technology with corporate finance specialists to empower clients to make informed decisions. This powerful combination allows business owners to determine the best option to help them weather tough headwinds.
Simon Cureton, CEO of Funding Options, who has also worked for leading financial services firms, comments: “The Funding Options team is extremely pleased to partner with Asto, one of the ambitious and innovative new lenders. which focus on laser to provide true flexible financing solutions for businesses. At a time when the SME financial sector faces huge challenges and really needs a positive boost, it is exceptional to see Asto making a commitment to show its commitment to independent UK businesses. At Asto, we believe we have a partner that lives up to our own ambition, together using new technologies to push the boundaries of SME lending as seen so far. “
Nicolette Maury, CEO of Asto, said: “We are delighted to partner with Funding Options, which marks the start of an exciting relationship that will strengthen our mission to support people as they grow their businesses. At Asto, we understand that no two businesses “needs are the same, which is why we designed our Asto Business Capital loan product to provide business owners with flexible financial support. Technology modern enables us to provide innovative solutions that are simple to use and accessible.Working with financing options, we aim to enable even more companies to react quickly to the ups and downs of their business.