Connaught currently funds a number of short term lenders including Tiuta and Mayfair Bridging.
Adrian Bloomfield, chief executive of the ASTL, says the trade body welcomes Connaught and looks forward to receiving the firm’s input and ideas.
He adds: “This move adds to the diversity of our associate membership, which represents a cross-section of providers to the short term lending industry.”
Mike Davies, chairman of Connaught, says: “As a business that is a strong stakeholder within the short-term market we believe it is important to be a member of the ASTL and support its work.”
He adds: “We look forward to being a strong voice within the ASTL and, while there is much work to do, believe it is an organisation which should be leading the debate and strongly representing the views and needs of all its membership.”