Home ANTBITES (Media Releases) Startups and SMEs can now pick and choose which invoices they use...

Startups and SMEs can now pick and choose which invoices they use to fund their business growth

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Funding options for Australia and New Zealand’s SMEs have broadened with the announcement that the region’s largest specialist provider of working capital solutions, Scottish Pacific, will now offer selective invoice finance.

Scottish Pacific CEO, Mr 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 cashflow solutions available to business owners.

It is estimated that the size of Australia’s selective invoice market is $150 million per annum.

Scottish Pacific’s new offering presents an opportunity to encourage startups and SMEs 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,” Mr Langham said.

Selective invoice finance is also an ideal solution for businesses that have fluctuations in their trading cycles at different times of the year.

“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,” he said.

“This initiative makes Scottish Pacific the only specialist working capital provider with the ability to support businesses in the whole supply chain.

“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 $10,000 to $30 million.”

About selective invoice finance – Selective Invoice Finance offers small to medium sized businesses the most flexible form of invoice finance in Australia. A line of credit secured by one or more outstanding sales invoices, it is easy to access, with approval inside 24 hours and no minimum period and no minimum fees, so there is no obligation to submit any more than one invoice for funding.

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