ScotPac, New Zealand and Australia’s most trusted non-bank SME lender, has introduced a revolutionary new product for New Zealand businesses that responds to their demands for quick and easy access to capital, with the convenience of an online application. 

With ScotPac’s Boost Business Loan, New Zealand SMEs finally have access to a fast and simple online lending solution that is perfect for any business needing an immediate cashflow boost.

There are no restrictions on industries, which fills a critical gap in the market for New Zealand businesses that have, until now, been chronically underserved by quick and easy capital options. This seismic shift in access has the potential to benefit thousands of business owners.

A Boost Business Loan allows businesses to quickly access funds ranging from $10,000 to $200,000, up to an average of 100% of monthly sales. So, if a business averages $30,000 per month in sales, it could apply for a quick cashflow boost of up to $30,000.

Some of the standout features of ScotPac’s Boost Business Loan include: 

• Simple online application process via the ScotPac NZ website.
• Funds available for use within 24 hours of approval.
• Loan terms from 6-24 months with no penalty for early payouts. 
• No security requirement for loans under $100,000.

To qualify for a ScotPac Boost Business Loan, a New Zealand business needs to have been trading in the same location for at least six months and be able to demonstrate a minimum turnover of $10,000 per month in sales. 

 

Lindsay Fisher, General Manager ScotPac New Zealand, said the introduction of the Boost Business Loan product is a direct response to market calls for fast cashflow support. 

“This game-changing new product provides a solution to the previous gap in the market for a fast online product that delivers funding when businesses need it most,” Mr Fisher said.

‘Whether SMEs need to stock up, expand their space, or hire a team, a Boost Business Loan gives them the capital to act fast, with funds available within 24 hours of approval.

“Similarly, if a good business with variable cashflow needs a fast cash injection to meet its monthly tax bill or an unexpected cost, ScotPac’s Boost Business Loan is there to help. 

“Whatever the need, New Zealand SME owners have made it clear they want a fast and flexible finance product with the convenience of an online application process. That is exactly what a Boost Business Loan delivers,” Mr Fisher said. 

Mr Fisher said ScotPac’s Boost Business Loan operates on a leading fintech platform underpinned by a data-driven credit decision engine that provides fast credit assessments. 

 

Boost Business Loan – Customer Case Studies 

ERG Recruitment, an Auckland based recruitment specialist in the freight, logistics, and warehousing sectors, has become a foundational client of Boost Business Loans. The milestone marks an exciting new phase in ERG’s 13-year partnership with ScotPac as a trusted debtor finance provider.

John Harland, ERG’s Director and a life member of the Recruitment, Consulting & Staffing Association of New Zealand, hailed the Boost Business Loan as a game-changing addition to ERG’s cash flow management arsenal. 

“Our longstanding relationship with ScotPac has been incredibly valuable, and we’ve often discussed the need for a flexible cash flow solution to address a gap in the market,” John explained.

“Recruitment is a capital-intensive industry that demands financing solutions that can keep pace with constant costs and new opportunities. 

“ScotPac’s Boost Business Loan delivers funding with the speed and flexibility that others can’t match, and it complements our existing invoice finance facilities.”  

John praised the streamlined application process as being “very clear and simple”, adding “the team at ScotPac couldn’t have been more helpful.” 

Other recent Boost Business Loan stories, all funded within 24 hours of approval include:

• Solar stock: A retail solar services business secured a loan of $150,000 to purchase new stock to grow its business.
• Recycling equipment: A waste recycling company received an unsecured loan of $80,000 to purchase new equipment.
• Disability support staff: A disability support organisation was successful in its application for $200,000 to bring on new staff to meet growing demand.

ScotPac is New Zealand and Australia’s largest non-bank SME business lender, providing funding to small, medium and large businesses from start-ups to enterprises exceeding $1 billion revenues. For 35 years ScotPac has helped thousands of business owners succeed, offering fast and flexible funding. From simple to complex, small to large, start up, growth or turnaround – ScotPac can help with a range of funding including Invoice Finance, Trade Finance, Asset Finance and Business Loans.

 

For more information contact:

Todd Hayward – Mob: 0412 205 151