Q. Who is Cash Line for?
Cash Line is for any business that would value a quick and easy way to maximise their cash flow when time is critical. Almost 70 per cent of SMEs we have interviewed in 2024 for our SME Growth Index Report nominated cash flow as a top three barrier to growth, on a par with staffing regulations and unhelpful government policies. So, whether funds are needed to seize new opportunities or manage unforeseen expenses, Cash Line delivers SMEs the peace of mind that cash on call is available, fast!
Q. How does Cash Line work?
Cash Line operates like a flexible line of credit that provides eligible businesses with a fixed credit limit of up to $250,000. ScotPac understands that time is a business owner’s most valuable asset, so we have made the application process quick and straightforward, taking around five minutes. All that is needed to apply is access to a cloud-based accounting package like MYOB, Xero, or QuickBooks and we will take care of the rest. Cash Line approvals occur within 24 hours of application, with funds deposited within 24 hours of approval.
Q. How does Cash Line differ from other lending solutions?
Cash Line removes the most common pain points that SME owners have told us hinder sourcing finance, particularly from the banks. In our most recent SME survey results, the wish list of things SMEs most wanted from a lending partner were easy onboarding and compliance processes, fast access to funds, and alternatives to lending against the family home. With Cash Line, ScotPac delivers a three-in-one solution for SMEs with the aid of smart, integrated technology. One further point of difference is Cash Line minimises monthly repayments to maximise cash flow.
Q. What type of security does Cash Line require?
Business borrowing often requires property-backed security. However, at ScotPac we understand that not every business owner wants to put up their family home as security for a business loan. That is why we take a different approach. We look at the potential of the SMEs we support, rather than the property assets of the owner. Cash Line funds are secured against business assets, which removes the stress and inconvenience of charges over personal property.
Q. Why should SMEs choose Cash Line?
With over 35 years in business lending, ScotPac is always looking for new ways to give SMEs the best chance of success. With the introduction of Cash Line, SMEs can attain cash flow freedom without the traditional constraints that make lending hard to navigate. Applying is quick and easy and there is no requirement for personal property as security. So, if your client or your business would like fast, fuss-free cash on call, please contact ScotPac about Cash Line today.
