By Zilla Efrat

A new funding solution removes many of the headaches small and medium-sized businesses typically face when looking to raise finance, improve their cash flow and grow their businesses. 

According to Small Business Loans Australia, about half of Australia’s small businesses face big obstacles when trying to borrow from Australia’s big banks. These include long delays in loan approvals, difficulty in obtaining favourable interest rates and having to put up assets to back the loan.  

The banks are known to have stringent loan criteria and are more cautious about lending to smaller businesses than they are when it comes to big businesses. 

According to studies, approximately one-quarter of small businesses have had their finance applications rejected by a major bank. This figure was higher for small businesses that had been in operation for less than five years. 

Fast and fuss-free access to cash

However, a new solution launched in March by Australia and New Zealand’s largest non-bank business lender, ScotPac, removes these types of obstacles and promises to help SMEs to turbocharge their cash flow. 

Called Cash Line, it doesn’t require business owners to put their family homes up as security. Instead, it operates like a flexible line of credit, providing a fixed-limit credit of up to $250,000 over a minimum 12-month period. 

While some banks’ approval times can stretch to 35 days and even 55 days, Cash Line’s loans are approved within 24 hours with the funds deposited within a further 24 hours.  

In addition, Cash Line doesn’t require any minimum repayments or excessive documentation. All that is needed to apply is a cloud-based accounting package like Xero, MYOB or Quickbooks with connected bank accounts. 

Ready when opportunity strikes

“Cash Line helps businesses maximise their cash flow, so they are always ready to seize new opportunities without delay,” says ScotPac CEO, Jon Sutton. 

“ScotPac understands that not every business owner can or wants to use their family home as security for a business loan. That is why we take a different approach. 

We look at the potential of the businesses we support, rather than the owner’s property assets.” 

Sutton notes that larger businesses have historically had access to a broader range of debt funding sources than smaller businesses but says things have changed. 

“ScotPac has the most flexible range of small and medium-sized business finance products in the market and the scale to deliver cost-effective solutions across a breadth of industries and business situations,” he says. 

“Over 35 years of operation we have become a trusted partner to thousands of businesses large and small, and our team are there to support business owners every step of the way.” 

Sutton encourages all business owners to consult their broker or advisors about ScotPac’s finance options, including its flexible trade finance products designed to help businesses grow across borders.  

“Our significant recent investment in technology has supported lending growth of more than 80 per cent in the past two years,” he says. 


Contact us for fast and flexible funding solutions.