A growing company specialising in cash flow finance has hired someone to set up the business in Queensland.
Australian Invoice Finance (AIF) launched in August 2017 and has clients in five of Australia’s six states.
Sales and cash flow finance veteran Drew Vautin has been hired by AIF to set up its Queensland operations and spearhead sales growth across the state.
Vautin, who is based in Brisbane, was most recently a business development manager for specialised products with Scottish Pacific for the Queensland and Northern Territory regions. Before that, he was national manager for Bad Debt Protection at Scottish Pacific.
Vautin joins AIF managing director Greg Charlwood, senior manager NSW Matthew Erwin, and senior manager WA and SA, Gary Green.
Charlwood said AIF’s success since they began showed established cash flow finance players were not meeting the needs of SMEs. The company pays up to 85% of unpaid invoices without asking for property as security, 24-hour approvals and greater flexibility for clients going through challenging periods.
He added, “Drew’s wealth of experience in dealing with SMEs across Australia, New Zealand and South East Asia will be invaluable to the growth strategy of Australian Invoice Finance. He has proven himself as an accomplished leader in the cash flow finance industry and built successful teams from scratch.”
Cash flow finance is a form of lending where a loan is backed by a company’s expected cash flows, which can be determined by the value of outstanding customer invoices for work done or goods sold. Cash flow financing companies guarantee to lend a set percentage of these unpaid invoices up front with the balance paid, less a fee, when customers pay the outstanding invoices.