Connaught currently funds a number of short-term lenders including Tiuta and Mayfair Bridging.
Adrian Bloomfield, chief executive of the ASTL, said: “The ASTL welcomes its newest associate member Connaught and is looking forward to receiving its input and ideas as the ASTL continues to grow.
“Connaught’s joining of the ASTL 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 Asset Management, added: “As a business that is a strong stakeholder within the short-term market we believe it is important to be members of the ASTL and support its work.
“We need all market participants to speak with a common voice and have a common purpose – namely the promotion of the sector, a focus on its sustainability and a commitment to ensuring the highest standards of lending and activity are achieved in all market dealings.
“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.”
