Selective invoice finance to improve cashflow for SMEs
(15 May 2015 – Australia) The range of cashflow options for small and medium-sized enterprises (SMEs) in Australia and New Zealand has been expanded by Scottish Pacific, which now offers selective invoice finance.
As one of the region’s largest specialist providers of working capital solutions, Scottish Pacific offers selective invoice finance as an ideal solution for businesses that have fluctuations in their trading cycles at different times of the year.
Chief executive Peter Langham said the new funding option for SMEs was created to meet market demand.
It is estimated that the size of Australia's selective invoice market is A$150 million per annum.
For 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".
“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," Langham 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,” he said.
"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 A$10,000 to A$30 million,” said Langham.