Business Capital withdrawal
Your questions answered
Why is Business Capital being withdrawn?
The difficult decision has been made to gradually wind down Business Capital over the course of 2021. This means that it will no longer be available to new and existing customers. If you are in need of funding, have a look at our website for some options that might be of help to you
When will Business Capital be withdrawn?
We have recently contacted existing customers to notify them of the date that their credit limit is no longer available for new loans. Any existing loans should be unaffected and should continue to be repaid as per the monthly repayment schedule.
Will I still be able to use my Business Capital credit limit?
We have recently contacted existing customers to notify them of the date that their credit limit is no longer available for new loans. If your credit limit is available, you can continue to take out loans before the withdrawal period date specified. After this date, your available limit will be set to £0 and you will not be able to request a new loan.
I’m an existing Business Capital customer, what will happen to my account?
You should have recently received an email from us to notify you of the date your credit limit will be available. If you have any existing loans, you should continue to make repayments as normal.
I've received an email informing me that my Asto Business Capital credit limit is being removed on 15th April 2021. Can I still drawdown a new loan?
Yes, you can drawdown new loans at any time before this date (subject to your available credit limit). After 15th April you will no longer be able to take any new loans, and your credit limit will show as £0 on your dashboard. If you have any existing loans, you should continue to make your repayments as per the agreed monthly repayment schedule. You can still view any previous loans and associated documents via your Dashboard.
I’ve received an email informing me that my Asto Business Capital credit limit is being removed immediately. Can I still drawdown a new loan?
If you have been informed that your Asto Business Capital credit limit is being removed immediately then you will no longer be able to drawdown any new loans. You can still view any previous loans and associated documents via your Dashboard. If you are in need of funding, have a look at our website for some options that might be of help to you.
I have an existing loan, what will happen to this?
Nothing, your loan still exists so you should continue to repay your existing loan via direct debit as normal. You do not need to repay early if you don’t want to, and we will not be asking you to do so. You can still view your Business Capital account via your Dashboard.
Do I have to keep up with my repayments?
Yes, you should continue to make repayments as normal. A failure to make repayments when due may affect your ability to get credit in future and could result in Asto taking action to secure repayment.
Can I repay my Business Capital loan(s) early repayments?
You continue to have the option to make early repayments. Otherwise, your loan will continue to be automatically repaid via your Direct Debit. Simply contact our customer services team to repay early.
What if I am struggling to meet my repayments?
Let us know as early as possible – we continue to maintain a dedicated support team who are on hand to help if you are experiencing difficulty with repayments simply contact our customer services team if needed.
I have a Business Capital credit limit and I use the app – what will happen?
We should have recently contacted you to inform you of your credit limit removal date. You can continue to use the Asto app, and we will inform you separately of any changes to the App.
Will you be retaining my data?