Scott McClymont previously had a debtor finance facility with Scottish Pacific from 1997 through to 2001, before refinancing his Labour Hire business with one of the ‘Big 4’ banks to access an overall funding package.
Recently, Scott won a contract with a major ship-building company; one which required a large investment in personnel and of course, cash to pay their wages. Despite having a long history with the bank, they weren’t able to move quickly enough to give Scott the confidence that that they would be supportive going forward. Scottish Pacific was there to help, offering a $1M limit for the debtor and enabling Alton Personnel to take the opportunity to grow its turnover without having to worry about how the increase in business would be funded.
“When I came to Scottish Pacific with my situation, it was a turnaround time of just under two weeks before it was all approved.” Since taking this particular project on, the number of Alton staff engaged has grown from 50 to 150 and Scottish Pacific has increased the limit again, ensuring continuity of funding.