ALTERNATIVE Business Funding (ABF) has unveiled a strategic partnership with insurance broker Jelf to widen its customer base.
The collaboration will see Jelf, which recently announced it will be rebranding as Marsh Commercial in January 2020, introduce its 250,000 commercial clients to ABF’s business finance aggregator platform.
ABF’s platform offers products from more than 100 business lenders, ranging from high street banks to alternative funders. These facilities include invoice finance, peer-to-peer loans and trade finance.
“Jelf’s regional footprint in the UK and strong reputation for providing a personal service to thousands of businesses will allow us to work closely together with these businesses to find the perfect funding match – to help them either grow domestically, purchase new equipment or property, or expand into overseas markets,” said Adam Tavener, chairman of ABF.
ABF is part of the government’s bank referral scheme, which mandates high street banks to refer rejected business borrowers to three aggregator platforms including ABF.
“Providing access to a wide selection of funding products, through such a respected platform as ABF Funder Finder, is another great way to help our clients,” said Colin Hall-Tomkin, client management and banking director for Jelf.
“We see supporting clients with their financing requirements being an important element of our quest to be their trusted business advisor and differentiating ourselves from our competitors.”
ABF recently announced a £6m fundraise to pursue its ambitious expansion plans. It is aiming to provide more than £500m of finance to more than 160,000 businesses over the next five years and it hopes to expand its reach into other business services including personal lending.