ScotPac, Australia’s largest non-bank business lender, has launched a new Line of Credit that allows businesses to draw down funds on demand, and only pay for what they use.

With new research showing almost 60% of Australian SMEs plan to invest in their business in the next six months, ScotPac’s Line of Credit facility promises business owners easy access to funding and greater control over their cash flow.

Key features of ScotPac’s Line of Credit product include:

  • Increased funding power – Limits range from $50,000 to $500,000, with eligible businesses able to borrow up to 150% of average monthly sales.
  • Fast settlements – Funds can be settled within 24 hours of approval.
  • Flexible control – Only pay for the funds that are drawn down.
  • Transparent structure – Predictable weekly payments and no hidden fees.
  • Easy to manage – Online access allows the facility to be managed anywhere.

ScotPac CEO, Jon Sutton said flexibility, simplicity and convenience were the hallmarks of the newest addition to its suite of lending solutions.

“Every business faces cash flow demands,” Mr Sutton said. “That’s why we’ve introduced a Line of Credit that puts business owners firmly in control of their cash flow.

“This product aims to empower business owners with access to fast, transparent finance when they need it most. SMEs can move at their own pace, safe in the knowledge they will only pay for the funds they use.

“Whether it’s covering payroll, purchasing stock, paying down debt, or seizing a growth opportunity, ScotPac’s Line of Credit puts the funds that businesses need within easy reach.”

Real-World Solution Meets Rising Demand

The Line of Credit launch comes as new research from ScotPac’s SME Growth Index Report reveals 59% of Australian SMEs have plans to invest for growth over the next six months, with 55% intending to use non-bank finance sources.

Mr Sutton said ScotPac’s Line of Credit delivers SMEs a flexible and straightforward finance solution, built around the realities of running a business, and without the rigidity and red tape of traditional lending. He said accessing and managing the Line of Credit facility had been made as easy as possible.

“We know the last thing business owners want is more red tape or complexity. The good news for business owners is that this product delivers flexibility without complexity,” Mr Sutton said.

“Clients can manage everything through a simple to use online portal that allows them to view a statement or request a redraw with just a few clicks.”

To apply for a ScotPac Line of Credit, businesses must:

  • Be owned by an Australian citizen or permanent resident aged 18+ 
  • Have traded for at least 12 months 
  • Turn over a minimum of $50,000 per month 
  • Provide six months of business bank statements, photo ID, and privacy consent. 

For applications, or to find out more about ScotPac’s Line of Credit, please visit www.scotpac.com.au/our-solutions/line-of-credit.

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ScotPac is Australia and New Zealand’s largest non-bank SME business lender, providing funding to small, medium and large businesses from start-ups to enterprises exceeding $1 billion in revenues. For more than 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, Line of Credit and Business Loans.

 

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Todd Hayward
Mob: 0412 205 151