Association of Alternative Business Finance launches

3rd February 2017
The Association of Alternative Business Finance (AABF) has launched 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 have clearly defined four operating principles that members will be required to adhere to:


A key early initiative for the AABF is for members to create and subscribe to a centralised database for Personal Guarantees that will prevent borrowers over committing themselves and help identify potential fraudulent activity. Capify UK’s MD Tony Pegg, adds,” Capify US was a founding member of the Small Business Finance Association (SBFA), a non-profit alternative lending industry trade association in the United States, that has focused strongly on sharing data to help prevent merchants that have defaulted on SBFA members as well as potential businesses trying to defraud members, saving millions of dollars in potentially bad transactions through the years. The AABF’s proposed PG database system will be a valuable tool for all association members”