Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter

Govt approves Scottish Pacific for export projects

Scottish Pacific Business Finance has been approved by the federal government’s export credit agency as the first non-bank lender to offer funding for Australian exporters.

Efic supports Australia’s export industry by guaranteeing commercial finance facilities taken out by Australian companies exporting or operating in the export supply chains, to help them expand their businesses overseas and source opportunities in emerging and frontier markets.

Andrew Hunter, chief executive of Efic, said working with Scottish Pacific will allow the agency to help more SMEs receive the finance they need to succeed overseas.

Scottish Pacific chief executive Peter Langham said Efic’s approval of the lender is another example of government support for small businesses on the back of the initiatives in the recent federal Budget.

“We are delighted to be the first non-bank lender to be approved for this type of arrangement with Efic. It is great recognition for Scottish Pacific and our growing product suite that supports Australian businesses engaged in international trade,” he said.

Mr Langham said there is a domestic supply chain which supports major exporters, but it is not always easy for smaller businesses operating in this space to access working capital.

“It’s a great opportunity for Scottish Pacific to be able to provide additional working capital support to SME businesses looking to access international markets,” he said.

Mr Langham said Australia-based SMEs are increasingly creating opportunities to sell their products and services into overseas markets, and this was stimulating demand for additional working capital solutions.

“Through our export finance facilities, Scottish Pacific can provide funding against invoices raised on overseas customers, making it easier to trade on open account terms,” he said.

“Exporters also benefit from the international trade support we can provide from our specialist trade finance team.”

Mr Langham added that Scottish Pacific was the only specialist working capital provider with the ability to support businesses across 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,” he said.

“We are now helping in all areas of the working capital cycle, for businesses with borrowing requirements from $10,000 up to $30 million.”

Advertisement
Advertisement
Govt approves Scottish Pacific for export projects
mortgagebusiness

Latest News

Firstmac managing director Kim Cannon is “disappointed” that Treasury rejected the non-bank’s proposed acquisition of Maleny Credit Un...

Asset finance group Consolidated Operations Group has announced that it will “scale back” its equipment leasing but will continue its as...

Half of Australian businesses have already been hit by the economic fallout from the coronavirus outbreak, with approximately 86 per cent ex...

FROM THE WEB
podcast

LATEST PODCAST: The rush to save small businesses

Do you think Australia will move to quantitative easing this year?

Why we’ll keep delivering for our communities in the face of COVID-19

alex

As Australia tries to keep pace with a rapidly changing business and social landscape in the wake of COVID-19, Momentum Media is leading the way delivering essential content to our communities, writes Alex Whitlock, director of Mortgage Business.

Read more

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.