The association of short term lenders

Welcome from Adrian Bloomfield,
Chief Executive of the Association of Short Term Lenders

It is with great pleasure that I draft the very first edition of the astl newsletter. Since forming our trade body in 2008, we have explored many ways of delivering our message so as to let the short term lending industry know who we are and what we are trying to do. Following numerous press releases and considerable publicity efforts, we have been delighted with the degree of familiarity and awareness already achieved with the larger lenders and several regulators.

The original basic objective of the astl was to establish good codes of conduct and behaviour to promote the interests of the industry and give confidence to investors, borrowers and the wider financial community. Additionally, the astl was established in order to speak to the regulators with a single and powerful voice. These objectives have been achieved and can be judged by the number of active members: it is clear astl is prospering, succeeding and meeting the needs of the membership.

The astl has recognised an even wider audience among the extensive network of intermediaries who feed business into the members and to that extent they the life-blood of the short term lending industry. However, as well as brokers, independent financial advisers and other intermediaries, it is considered that there is a long list of lenders who have not yet communicated with the astl and so far have not shown any inclination to pay attention to the trade body that represents their interests. 

It is very much hoped that this newsletter will reach the wider audience of intermediaries and lenders who have not yet become members, bringing to their attention the activities of our trade body and the considerable efforts currently being made to protect and promote the industry.  The astl has a website to which I draw your attention, www.theastl.org. In addition to the members listed, we have an active and growing list of associate members who are mainly service providers to lender members. There are many other firms of professionals as well as service providers who are actively seeking membership as, naturally, they wish to align themselves with the trade body so as to gain convenient access to the members with a view to offering their professional services. 

At a time when there is a greater need than ever for collaboration and reaching consensus when dealing with the regulators and authorities, it is important that the astl is able to claim the highest possible level of representation. Here again we hope this newsletter will help pass on the message to all members of the short term lending industry, to join forces through our trade body and collaborate to reach a majority opinion in dealings with the regulators and the financial community that supports the industry.

I hope you will be pleased with the newsletter and naturally we would welcome any comments or suggestions.