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Update: The Australian and New Zealand operations of Bibby Financial Services were acquired by Scottish Pacific Business Finance in late 2015 to create Australia’s largest non-bank invoice finance specialist. Welcome to our website.

Scottish Pacific announces new Trade Finance option for Australian importers

The days of importers needing hefty upfront payments before goods can be imported are gone. Australia’s largest independent provider of cash flow and trade finance, Scottish Pacific Debtor Finance, today announced the launch of Scottish Pacific Tradeline, a flexible trade finance solution for Australian and New Zealand importers which allows them to defer payment for goods for up to 90 days.

Scottish Pacific Tradeline gives small to medium enterprises access to flexible funding options for a range of import finance transactions and it has no impact on the company’s existing finance arrangements. Scottish Pacific CEO, Peter Langham said: “Tradeline is all about providing smart money for smart businesses.  By deferring payment for imported goods by up to 90 days the business frees up much needed working capital to support the growth of the business in other areas.”

Tradeline can be used for a single or multiple transactions, with no minimum amount, allowing business owners the flexibility to create a cash flow solution that meets their particular import requirements. Furthermore they are not required to pledge real estate security and it can be provided quickly without interfering with existing banking arrangements.

Under the product terms, Scottish Pacific pays the exporter for the imported goods once the goods are shipped, preserving the important relationship with the supplier. The importer then has up to 90 days to pay Scottish Pacific for the imported goods.

Tradeline is available through Scottish Pacific’s Trade Finance division which is led by industry specialist Craig Michie who previously headed Micho Trade Services, a niche provider of financing solutions to SMEs particularly in the export and import businesses.

Scottish Pacific acquired Micho Trade Services in September this year to expand the range of flexible financing solutions available to its SME clients. Said Mr Michie: “Tradeline is about enhancing our existing offerings to clients who need the flexibility of extended terms for imports so they can better manage their cash flow, relieve unnecessary pressure and grow their business. “Tradeline works for small and medium sized businesses. Approvals can be given within five days and it’s completely separate to any other credit arrangements the business may already have in place, so it can be a quick and effective solution” Mr Michie added.

With locations in Australia, New Zealand and China, Scottish Pacific is able to facilitate cross border finance terms throughout Asia Pacific.

To find out more about how Scottish Pacific Tradeline can help your business, please visit our trade finance page.

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