Launching the Association of Alternative Business Finance (AABF)
Liberis is proud to announce the launch of the Association of Alternative Business Finance; an organisation formed to promote best standards of industry practice, and shape how the alternative finance sector develops in the coming years.
The seven founding members - Capify UK, Catalyst Finance, Credit4, Fleximize, Liberis, The Just Loans Group and YesGrowth – are not only adhering to the well-established British Bankers Association Lending Code, but have clearly defined four operating principles of their own:
All members of the association will be required to observe these standards and consequently encourage the assurance of responsible lending for SMEs; a business commitment we already strive to support here at Liberis.
Within the first year, the AABF hopes to continue recruiting like-minded Alternative Finance providers who share the same passion for best practice. As the group grows, the common voice harboured at the AABF will grow simultaneously throughout the sector, educating brokers and SME owners alike about alternative finance platforms.
As an early initiative, the organisation also plans to create a centralised database for ‘Personal Guarantees’, with the help of the seven founding partners. This program, that AABF members will be able to contribute and subscribe to, will exercise responsible lending further by preventing borrowers from overcommitting and helping to identify any potentially fraudulent activity.
As result of this collective endeavour towards a more openly responsible, fair and secure future for the sector, the AABF hope that SMEs considering alternative finance will come to recognise the AABF logo as a symbol of reputability and feel reassured that they are forming relationships with the right partners.