Market leader Scottish Pacific moves into selective invoice finance space
Funding options for Australia and New Zealand’s SMEs broadened today with the announcement that the region’s largest specialist provider of working capital solutions, Scottish Pacific, will now offer selective invoice finance.
Scottish Pacific CEO, Peter Langham, said the new funding option for small to medium sized business was created to meet market demand and would increase the range of cashflow solutions available to business owners.
It is estimated that the size of Australia’s selective invoice market in $150m per annum.
For the key referrers such as commercial finance brokers and accountants, Scottish Pacific’s new offering presents an opportunity to encourage those clients who may have had reservations about committing to a longer term arrangement, or having to sell all their invoices, the chance to ‘dip their toes in the water.’
Peter said: “The ability to select which invoices to submit for funding makes it easy for business owners to find out how invoice finance can improve their cashflow without having to commit every invoice.”
Selective invoice finance is also and ideal solution for businesses that have fluctuations in their trading cycles at different times of the year.
Peter said: “This will be especially appealing to SMEs that have seasonal cashflow needs, giving them the ability to access additional working capital when they need it, without entering into a longer term commitment.
“This initiative makes Scottish Pacific the only specialist working capital provider with the ability to support businesses in the whole supply chain.
“With trade finance we can procure goods for our client, with selective invoice finance we provide short-term funding solutions and our traditional debtor finance meets the long-term working capital requirements.
“We are now helping in all areas of the working capital cycle, for businesses with borrowing requirements from $10k – $30m.”