Partnership opens up foreign exchange and funding products to SMEs

March 1, 2019

Bristol-based small business loans firm Alternative Business Funding (ABF) is giving clients greater access to international payment services and a wider range of business funding products after forming a partnership with currency broker TorFX.

Under the agreement, TorFX customers will be introduced to ABF’s innovative designated referral platform Funder Finder, which is approved by HM Treasury and the British Business Bank and gives businesses access to a variety of SME funding choices, which can be approved in some cases within hours.

Ham Green-based ABF brings together the market leaders for business funding from high street banks to alternative funders. Its funding products and facilities range from short to long-term loans, invoice trading, peer-to-peer, and trade finance.

At the same time, ABF will introduce its customers to Cornwall-based TorFX’s business services to help them save time and money on their international money transfers.

Many of ABF’s clients need assistance with managing foreign payroll, fulfilling invoices, investing in overseas assets, or meeting import/export costs, so the relationship promises to be a rewarding one.

ABF chairman Adam Tavener said: “We’re delighted to be partnering with TorFX – as this is a good example of how two highly prominent, and likeminded South West based businesses can work together to open up opportunities and support for SMEs. Many ABF customers are either already trading internationally, or seeking to do so in the future, so to be able to speak to an award-winning currency broker about their specific requirements will be of significant benefit.”

TorFX managing director Nigel Fox added: “At TorFX we are very excited about our partnership with Alternative Business Funding (ABF). There is great synergy between our two organisations. We share common objectives, firstly, to help SME’s save time and money in key financial areas: business funding and corporate foreign exchange. Secondly, we are both committed to ensure our provision is simple, safe, efficient and free and above all, that what we offer is supported by high quality customer service.

The ABF platform is a fantastic tool to help companies find the right funding at the right cost and in an extremely time-effective way. Going forward many of our clients will be looking to invest, to expand their business, or to improve their cash flow. There is real added value for our clients now in our ability to be able to introduce them to ABF.”

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