Problems at Ashley Commercial Finance ?

Ashley Commercial Finance have issued a press release which included the phrase “We have decided that in the current climate risk is more easily managed at the “small ticket” end of the factoring market and have therefore introduced a temporary funding cap of £50k for new business.”

We had heard rumours of funding restrictions being placed on clients and wonder whether this is connected with other rumours doing the rounds about substantial bad debt losses within their client portfolio.

There is a well known company within factoring circles whom no-one would touch with the proverbial bargepole but if rumours are to be believed Ashley unwisely took on a client connected with this company and are now suffering the consequences.

1 thought on “Problems at Ashley Commercial Finance ?”

  1. i had not encountered your blog until this morning and i have to say that it is rather entertaining in a popbitch/tabloid newspaper sort of way.

    however, forgive me for dealing in facts, but the decision to focus on our core market of sub-£50k exposures has been made for exactly the reason stated – risk is more easily managed.

    i would also add that the returns are better.

    your blog alludes to client fraud – who in the industry is untouched by this in the current climate?

    however, with average funds out of under £20k and no large exposures we are well placed to absorb the occasional loss which evades our rigorous underwriting and operational procedures.

    it goes without saying (but i’ll say it anyway) that your speculation about “substantial bad debt losses” is scurrilous and wholly inaccurate.

    as i said at the outset, your blog is pretty entertaining stuff and i guess if you stuck to the facts it would all get rather dull.

    jonathan cranston
    managing director
    ashley commercial finance ltd

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