Company Research Report: ScotPac Business Finance
Company Overview
Name
ScotPac Business Finance
Mission of the Company
ScotPac exists to give business owners a better chance of success by providing specialized working capital solutions and a comprehensive range of financing options.
Year Founded
1988
Founders
No information is available
Key People
No information is available
Headquarters
Level 41, 25 Martin Place, Sydney, NSW, Australia, New South Wales
Number of Employees
Over 250 employees across several countries.
Revenue
No information is available
Known For
ScotPac is Australia's largest non-bank business lender known for offering a wide range of flexible funding solutions such as Invoice Finance, Trade Finance, Asset Finance, and business loans.
Products
Invoice Finance
Description:
Invoice Finance (also known as Invoice Factoring or Debtor Finance) helps businesses turn their outstanding customer invoices into a readily available funding source.
Key Features:
- Improve Cash Flow: Immediate cash injection for operational needs without property security.
- Flexible Limits: Facility limits ranging from $10K to $150M to support various business sizes.
- Fast Access: Availability of funds within 24 to 48 hours.
- No Property Security: Access funding without property collateral.
- Personal Service: Dedicated relationship manager support.
Asset Finance
Description:
Asset Finance allows businesses to purchase new or pre-owned assets locally or from overseas, replace or upgrade existing assets, and fund contracts.
Key Features:
- Equipment Purchase: Financing for new or pre-owned assets.
- Flexible Assets: Available for a range of asset types.
- Growth Support: Facilitates both daily operations and growth initiatives.
Trade Finance
Description:
Trade Finance enables businesses to conduct international transactions smoothly, mitigating risks and ensuring compliance with trade regulations.
Key Features:
- Funding Access: Supports necessary trade funding through facilities like letters of credit and bank guarantees.
- Risk Mitigation: Protects against political, economic, transport, and trade risks.
- International Support: Specialized team in China and funding in multiple currencies with terms up to 150 days and up to 100% of order value.
Cash Line
Description:
A quick and easy line of credit designed to offer a fixed limit without changes to bank accounts, principal repayments, or property security.
Key Features:
- Fast Funds: Funds available within 24 hours.
- No Property Security: Simple, fast access to funding.
Cash Connector
Description:
Cloud-based funding solution with limits ranging from $10K to $250K.
Key Features:
- Cloud-Based: Access to funds within 48 hours.
- No Property Security: Simplified funding process without property collateral.
Recent Developments
New Products
- Cash Line: New fast funding solution with funds available within 24 hours and no property security.
- Cash Connector: Cloud-based funding with quick access to capital (funds in 48 hours).
New Features
- No new features were explicitly mentioned for existing products.
Partnerships
No information is available.
Other Developments
- SME Growth Index: In March 2024, ScotPac released the 10th anniversary edition of the SME Growth Index, offering insights into how businesses navigated economic challenges, from pandemics to rapid technological advancements.
Summary
ScotPac Business Finance has established itself as a leading non-bank lender in Australia, offering a diverse array of financial solutions tailored to meet the unique needs of small and medium enterprises. With its expansive product suite and a focus on flexibility, ScotPac continues to support and enable the growth of thousands of businesses across Australia and New Zealand.
