Benson Hersch has welcomed the news that Affirmative Group has re-joined the Association of Short Term Lenders (ASTL) after an absence of almost five years.
Mr Hersch, CEO of ASTL, believes the addition of Affirmative, the Manchester-based lender in business since 2004, demonstrates a desire to promote the positive reputation of bridging finance. And he sees the move as particularly welcome considering ASTL was a founding member along with 18 other firms.
“We continue to welcome lenders that are open to helping to progress 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 re-joining the association is an encouraging move. He said: “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.”
Affirmative 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 Mr Esterkin and Gary Lederberg have operated as solicitors and financiers for decades.