{"id":11889,"date":"2014-04-08T09:31:15","date_gmt":"2014-04-08T09:31:15","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=11889"},"modified":"2014-04-09T11:01:52","modified_gmt":"2014-04-09T11:01:52","slug":"aztec-money-support-fuel-companies-achieve-sustainability","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/?p=11889","title":{"rendered":"Aztec money support fuel companies achieve sustainability"},"content":{"rendered":"

\"aztec<\/a><\/p>\n

Aztec Money, the Ireland-based financial support network, which has recently began<\/span> operating in Ghana and across the African continent, is assisting eco-focused startup Foras Fuels achieve sustainability by offering value added services to companies in Europe, Asia and Africa.<\/p>\n

Accessed in<\/span> Ghana via the portal www.aztecmoney.com.gh<\/a>, Aztec Money\u2019s platform is providing a critical alternative to traditional forms of finance, leveraging technology to allow suppliers to sell their invoices outright via an online marketplace. To date, the platform is able to process $30 billion receivables annually.<\/p>\n

One segment of Aztec Money\u2019s user base which has found the platform a particularly timely relief is the small- and medium-scale business sector. Foras<\/span> Fuels is one such SME, a startup whose CEO, Eoin Treacy, was able to utilize the large network of investors which the Aztec platform provided to secure funding.<\/p>\n

\u201cWe get the cash into our own business, and keep our business and supply chain working,\u201d Mr. Treacy<\/span> noted.<\/p>\n

Foras<\/span> Fuels offers<\/span> an innovative service which synthesizes fuel from various kinds of waste materials, including trash that would otherwise be sent to landfills. The company actively engages with clients to identify specific waste materials they have which can be processed into quality alternative fuels.<\/p>\n

While Foras Fuels works<\/span> primarily with companies in the UK, Ireland and Eastern Europe, it has already begun expanding into Asia, India and onto the African continent. As the market has responded to international trends in sustainability that are currently taking hold, the company\u2019s client base has grown. Today, it boastes<\/span> multinationals such as cement giant Cemex, among its client list.<\/p>\n

The company has not been immune to financial hurdles, however. Like many startups, Foras Fuels\u2019 has found that traditional forms of financing can be quite restrictive. In the wake of the global financial crisis, banks have tightened lending standards and subjected loan applicants to greater scrutiny.<\/p>\n

In contrast to this, the Aztec Money cloud-based online marketplace allows trade suppliers to raise working capital by selling their outstanding invoices to a broad investor base, one that subjects SMEs to less scrutiny. \u201cOne big advantage of Aztec Money is that it\u2019s not based in<\/span> our credit rating \u2013 only our clients\u2019 credit rating,\u201d the Foras Fuels CEO noted.<\/p>\n

By allowing companies on the platform to sell invoices, rather than borrowing against them, Aztec Money removes the need for credit scoring or lending limits. In addition, because companies on the platform sell invoices on a selective basis, this means no need for any long term contract or personal guarantee, a large plus<\/span> for SMEs.<\/p>\n

Aztec Money also provides the necessary customer care to users of the platform, with an established\u00a0 support staff in most regions in which the platform is accessible, including Ghana. As Eoin Treacy testified, \u201cAztec Money\u2019s processing team was always very helpful and easy to work with. It was a very smooth process.\u201d<\/p>\n

Particularly at a time when businesses are awakening to the critical importance of sustainable business practices, it is critical that innovative entrepreneurs such as Eoin Treacy have access to the right financial support systems to nurture their innovations.<\/p>\n

As user adoption of the Aztec Money platform grows in Europe, Africa and beyond, it is expected that more of such success stories will be unearthed, following the example of Foras Fuels.<\/p>\n

\u201cWe will be working with Aztec from now on,\u201d Mr. Treacy<\/span> stated.<\/p>\n

 <\/p>\n

From: Stratcomm<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Aztec Money, the Ireland-based financial support network, which has recently began operating in Ghana and across the African continent, is assisting eco-focused startup Foras Fuels achieve sustainability by offering value added services to companies in Europe, Asia and Africa. Accessed in Ghana via the portal www.aztecmoney.com.gh, Aztec Money\u2019s platform is providing a critical alternative to […]<\/p>\n","protected":false},"author":14,"featured_media":11923,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"footnotes":""},"categories":[],"tags":[21],"class_list":["post-11889","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-psychiatric"],"_links":{"self":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/11889","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11889"}],"version-history":[{"count":0,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/11889\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=\/wp\/v2\/media\/11923"}],"wp:attachment":[{"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citifmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}