ART tops £1m small business loans
ART (Aston Reinvestment Trust), the Birmingham-based lender, has supplied more than £1m to businesses in Solihull and Birmingham over the past year. The organisation, which said it “still has more to lend” in the coming months, offers loans to both start-up and high growth businesses.
ART, which was established 14 years ago, is designed to support small and medium sized businesses unable to access the finance they need from the banks.
Steve Walker, chief executive of ART, said: “We’re here for just about any business with a viable proposition, and if for some reason we can’t help, we will always refer people on to others who may be able to.
“We are owned by our members, both borrowers and investors, and are constituted as an 'Industrial and Provident Society'. Money repaid on loans is reinvested in more loans. Our aim is to boost the local economy, helping our borrowers to create and preserve jobs.”
ART’s borrowers have included start-ups and existing high-growth businesses, and commercial and social enterprises, as well as self-employed individuals.
