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ASX-listed small business lender Scottish Pacific has unveiled an expanded product range following feedback from brokers.
Senior Scottish Pacific executive Craig Michie will head the group’s new specialised finance division, responsible for new offerings including progress claim finance, asset finance loans and bad debt protection, in addition to existing products such as selective invoice finance, trade finance, import finance and export finance.
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Mr Michie said this expanded range will provide greater scope for Scottish Pacific to work with brokers and their clients to “find more opportunities and more ways to make funding deals happen”.
“For 30 years we’ve specialised in debtor finance, and helped thousands of clients to survive and thrive. But sometimes brokers’ clients don’t fit into a traditional debtor finance model, so we’ve made it easier, with new and very flexible products which can be tailored to meet very specific funding needs,” Mr Michie said.
“It also means we can fund brokers’ clients right through their supply chain from purchase to payments, and right through the peaks and troughs of their business lifecycle,” he said.
“For brokers, if your clients don’t fit a standard debtor finance deal, we’ll work with you to tailor a deal, whether your clients are looking for $30,000 or $30 million funding. We’ll be able to say ‘yes’ to your clients, faster and more often than ever. In a tough market, this offers brokers new sources of income.”
Mr Michie said Scottish Pacific’s debtor finance and specialised finance options will provide opportunities for both residential and commercial brokers to diversify into working capital finance.
“There are real incentives for brokers to work with us on asset finance loans and progress claim finance, as not many providers are able to provide our scale of funding. These products allow us to fund where we have not been able to say yes to in the past,” he said.
