(24 January 2022 – Australia) ScotPac’s new “Home Loan for Business Owners” offering will provide property-secured lending to SME owners, allowing them to use the equity in their residential property to fund the business with bundled savings if they use additional ScotPac solutions such as invoice, asset or trade finance.
The new offering joins two new property-secured working capital funding solutions including “ScotPac Business Loan” and “ScotPac Business Cash”, broadening the prominent non-bank lenders’ capability built on three decades of specialist knowledge about SME funding. The new offerings are positioned as a game-changer for businesses seeking new funding.
ScotPac has also released the findings of its latest September 2021 SME Growth Index that found eight in every ten Australian business owners are most worried by compliance, cash flow and finding enough time in the day to complete tasks.
“ScotPac is willing to take on and service this neglected part of the market, and through our deep understanding of SME businesses and their cashflows we can provide additional funds and products for their home loan and business needs” commented ScotPac CEO, Jon Sutton
“All three new solutions have fast set up, no-fuss paperwork and conditional approval in as little as 48 hours, plus personalized service from a dedicated relationship manager who can help SME owners with funding as their businesses evolve. Unlike other lenders, ScotPac has the ability to personalize solutions to remove many challenges business owners face, allowing us to say yes to more often than other lenders” Mr Sutton added.