In September of 2021 Stenn, the fastest-growing online fintech platform for financing small and medium sized businesses engaged in international trade, announced an exciting new alliance with the British-Argentine Chamber of Commerce (BACC), an institute founded to promote trade investment between Great Britain and Argentina.
Together with BACC, Stenn aims to strengthen the support for SMEs in Argentina, and expand international invoice financing services to the rest of Latin America.
Stenn is committed to supporting small and medium sized enterprises trading internationally. Organisations in Argentina and Latin America need solutions to operate effectively on the global stage. The BACC works closely with businesses to promote opportunities for export and investment between the UK and Argentina. Therefore an alliance between Stenn and BACC is a fantastic opportunity to boost the support for businesses in Argentina and will help kickstart their post-covid recovery.
Javier Fernandez, Marketing Manager Latam at Stenn International, noted that: ''At Stenn we believe that our alliance with BACC will help SMEs understand how invoice financing can grow their businesses. We hope the support from the BACC will give us more opportunities to improve the export processes of Latin American SMEs, especially those based in Argentina.”
Susana Ecclestone, Executive director at BACC, commented: “For the British-Argentine Chamber of Commerce, it is a pleasure to have Stenn as a new member of the Chamber and to participate in its expansion strategy in Argentina and Latin America. We warmly welcome Stenn and look forward to working together for its international growth as we do with all the companies that belong to the Chamber....Our mission is to support international trade, its digitisation and to facilitate and streamline transactions between countries in their exchange of goods and services. We appreciate Stenn's support and from our side we are glad to add a company dedicated to International Invoice Factoring to our network.”
Pedro Morini, Researcher at Stenn International, commented: “This agreement with the British-Argentine Chamber of Commerce is part of Stenn's strategy to create the necessary bridges between Argentine SMEs and the United Kingdom. These types of strategic alliances will allow us to deliver a service to SMEs that is more flexible and efficient than bank financing. We aim to provide an agile and transparent service, which empowers exporters and companies that want to start introducing their products to the rest of the world"
Already, Stenn has implemented a special financing program “Made in Argentina” to assist Argentine meat manufacturers and exporters in overcoming the post-covid crisis. The program is supported by a pool of world-renowned investors with a reserve of $500m USD, and intends to help companies unfreeze working capital and avoid deferred payments with pending invoices. Stenn also provides support for other industries and has so far financed $2,391,126 for seafood businesses in Ecuador and $717,958 for fish and seafood exporters in Peru.
This is the beginning of a promising new alliance between Stenn and BACC that will help to increase the potential of SMEs throughout Argentina and Latin America.
The British Argentine Chamber of Commerce (BACC) was founded to promote trade and investment between Great Britain and Argentina.
Since its incorporation in the UK in 1995, the BACC has provided its members with a source of contacts and updated information about Argentina. The Chamber offers a comprehensive programme of events which give members the opportunity to meet key business professionals of countries, government officials and other individuals shaping bilateral relations.
Stenn is based in London, provides financing services in 74 countries and is backed by financial giants like HSBC, Barclays, Natixis and many others.
Stenn is connecting international SMEs to the global financial system via invoice financing online. On stenn.com you can apply for financing and trade credit protection from 10k to 10 million dollars within 48 hours.
Javier A. Fernandez
Marketing Manager Latam
Stenn International Ltd.
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