Debtor finance company, Scottish Pacific has announced its move into the selective invoice finance space, to broaden the funding options for Australian and New Zealand SMEs.
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 cash flow solutions available to business owners.
For key referrers, such as commercial finance brokers, Langham says its new offering presents an opportunity to encourage clients who may have had reservations about committing to a longer term arrangement or having to sell all their invoices.
“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 cash flow without having to commit every invoice,” he said.
Selective invoice finance is also an ideal solution for businesses that have fluctuations in their trading cycles at different times of the year, according to Langham.
“This will be especially appealing to SMEs that have seasonal cash flow 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.”
Brokers can even earn commission for referring SME clients to Scottish Pacific. A spokesperson for Scottish Pacific told Australian Broker
that commission is payable to brokers on invoices funded, however there are different variables, so brokers should phone Scottish Pacific to discuss further details.