Cashflow group appointment to help expansion

by Rebecca Pike12 Dec 2018

A cashflow finance group has appointed a new manager to oversee operations as it continues to grow Australia-wide.

Australian Invoice Finance (AIF), which launched in August 2017, has hired Chris Allchin as senior manager to set up its Victorian and Tasmanian operations and spearhead sales growth in both states.

Allchin, who is based in Melbourne, has 11 years’ experience in SME finance, most recently at FactorONE, where he was a business development manager for four and a half years, focusing on management of broker relationships and potential leads in Victoria.

He said he was extremely pleased to be joining AIF after a refreshing six-month break from professional services.

He added, “I kept a very close eye on AIF and Greg Charlwood during this time, as a new invoice financier in the market. I am looking forward to working with the AIF team and especially Greg, who is a recognised pioneer in this industry.

“I have always enjoyed working with SMEs, especially businesses in distress, because there is a level of care and understanding that’s required, which I find is not as common as it should be in the debtor finance industry. Ensuring continuity with clients before and after settlement is paramount to ensuring what you put on the table as an offering, is being followed through on.”

This is the third appointment in the past 12 months for AIF after Gary Green, senior manager for Western Australia and South Australia was appointed in February 2018 and Drew Vautin, senior manager for Queensland, came on board in June 2018.

Greg Charlwood, AIF managing director said, “We’re very excited to have Chris join the AIF team. He is a passionate and driven individual who is sure to achieve great outcomes for our clients in Victoria and Tasmania.”

AIF offers to pay up to 90% of unpaid invoices without asking for property as security, as well as 24-hour approvals and greater flexibility for clients going through challenging periods.

Cashflow financing is a form of lending in which a loan is backed by a company’s expected cashflows, which can be determined by the value of outstanding customer invoices for work done or goods sold.

Cashflow 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.