Affirmative Group has re-joined the Association of Short Term Lenders (ASTL) after a period of almost five years.

The Manchester-based lender has been in business since 2004. It provides short-term financing for residential and commercial borrowers, specifically in development finance and structured finance situations in both regulated and unregulated spheres. It also welcomes complex transactions in bridging for private individuals, as well as property developers and investors.  The firm has a wealth of experience in its underwriting and sales teams, and its founders Eugene Esterkin and Gary Lederberg have operated as solicitors and financiers for decades.

Affirmative was a founder member of the ASTL, alongside 18 other firms, with the desire to help promote bridging and short term finance. The ASTL’s growing and diversifying membership has helped it to successfully navigate a changing landscape. In recent years it has hosted four annual conferences and has recently toughened its code of conduct to eliminate back charging of higher rates of interest in the case of default. Since the beginning of 2017 it has welcomed five new associate members. Affirmative feels that now is the right time to re-join the ASTL which continues to be at the very forefront of responsible bridging lending.

Benson Hersch, CEO of the ASTL says, “We continue to welcome lenders that are open to helping to progress and promote the positive reputation of bridging finance and it is great to see a founder member returning to the association. Affirmative has substantial experience in the short term finance market and well over 100 years of combined experience in lending and financial markets. I am confident that it will once again make a valuable contribution to the association and its members.”

Eugene Esterkin, MD at Affirmative says, “As a founder member and original director of the ASTL, both Affirmative and I am happy to see the progress that the ASTL has continued to make under Benson’s leadership. It is clear to see how far the association has come; even the way that it operates has changed. We hope that we can contribute to the good work. 

“The growing membership is allowing the association to continue raising the profile of short term finance while increasing the standards and professionalism in the industry. In addition, amid much political and economic change, it is good to see that the recent raising of standards has added to the appeal of becoming a member even further. This in itself is a reflection of the association’s standing and continued hard work.” 

ASTL Press Release Thursday 8th June 2017