An aggregator with more than 3,600 brokers in its network, has announced a new partnership that will take the number of SME finance specialists on its panel to more than 25.
Connective has welcomed debtor finance specialist, Cashflow Finance, to its lending panel.
Cashflow Finance provides products that allow SMEs to leverage their unpaid invoices to provide immediate working capital for their business, with facilities of up to $10m available with no "bricks and mortar" security required.
Within 24 hours, 80% of the invoice value is made available, with the remaining 20% of funds deposited the day the invoice is paid, with a fee deducted.
“Debtor finance has historically been viewed as an instrument to simply overcome short-term cashflow constraints. This mindset is changing, however, with many Australian SMEs today engaging debtor finance more strategically, whether to leverage the enhanced cash position to employ more staff, for capital expenditure, or to take advantage of acquisition opportunities,” said head of Connective Asset Finance, Brent Starrenburg.
“With access to SME finance remaining tight through traditional channels, it’s important that we provide our brokers with as many options as possible to assist their clients to fulfill their funding requirements,” he added.
The specialist lender also offers an equipment finance product and an unsecured trade finance offering.
“Cashflow Finance realises the critical role of brokers in the SME lending space. We are thrilled to be joining the Connective lender panel to provide an alternative lending solution to their brokers,” said Cashflow Finance MD, Mark Cleaver.
“With the finance landscape changing we are excited to work closely with Connective and their brokers to understand the challenges they face and create innovative invoice finance solutions for their clients that allow them to achieve their growth aspirations.”