Three new alternative lenders have joined the recently launched Association of Alternative Business Finance (AABF) – Invoice Cycle, Merchant Money and Reward Finance Group. The AABF was launched on 1 February this year with the major ambition of championing and promoting the best standards of industry practice. The seven founding members, Capify UK, Catalyst Finance, Credit4, Fleximize, Liberis, The Just Loans Group and YesGrowth.
Invoice Cycle’s UK Managing Director, David Cockle says, “Invoice Cycle is delighted to join the AABF, which we feel empowers our shared goals of Transparency, Responsibility, Fairness and Security. As the alternative finance sector develops, it is important that the leading providers work together to develop industry standards, and ensure our clients receive the highest levels of service. The AABF is at the forefront of developing this industry standard and we are very happy to become early members and offer our support.”
Merchant Money‘s Director, Danny Girnun says, “Since launching the business, our focus has been to responsibly provide SMEs with the funds and confidence that they need in order to grow their businesses. By employing industry best practices and aligning ourselves with the AABF, we can successfully uphold our values of being transparent, fair and responsible when dealing with our clients.”
Reward Finance Group’s, Group Sales and Marketing Director, Nick Smith adds, “The lending marketplace is changing for SMEs with so many choices available. Here at Reward we are keen to ensure that the alternative finance space gets the profile it deserves so that ultimately the SMEs in the economy get the product they need to support and grow their businesses. Joining the trade association will give us a larger collective voice, help to promote alternative lending and ensure that standards and disciplines are maintained.”