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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 acquires Bibby Financial Services’ Australian and New Zealand business in a deal that increases funding options for SME sector.

January 12, 2016 - Scottish Pacific Business Finance today announced that they have acquired the Australian and New Zealand business of Bibby Financial Services.

Announcing the acquisition, Scottish Pacific CEO Mr Peter Langham said small to medium enterprises and startups looking to fund business growth now have improved alternatives outside the Big Four banks and broader banking sector.

“Business owners make it clear to us, via our SME Growth Index, that far too many SMEs still don’t know about funding options beyond the banks, and when the banks won’t fund them they look to their family and friends or the credit card to maintain and grow their business,” Mr Langham said.

"Scottish Pacific’s offering as a working capital lender for SMEs was already strong and is now even more a comprehensive funding alternative for small businesses looking to grow, whether domestically or overseas,” he said.

Scottish Pacific is a award-winning business with a strong trade finance division as well as a selective invoice finance offering.

In recent years, Bibby’s expansion beyond debtor finance has been into credit insurance, asset finance, a collections business as well as progress claim finance. “With the acquisition, Scottish Pacific clients will be able to access a broader range of funding and business solutions, all without having to mortgage the family home,” Mr Langham said. “Our expanded team looks forward to working with the SME sector to support their growth.”

Scottish Pacific is the largest specialist provider of working capital solutions for SMEs in Australia and New Zealand. More than 1000 clients in industries including transport, manufacturing, wholesale, import, labour hire and printing benefit from Scottish Pacific’s broad range of trade and debtor finance solutions. Scottish Pacific handles more than $6 billion of invoices each year, providing funding lines exceeding $500 million. Established in 1988, the business has full service bases in Sydney, Melbourne, Perth, Brisbane, Auckland, London and China. Scottish Pacific was awarded 2015 and 2014 Best Cash Flow Lender by broker publication The Adviser, as voted by brokers, in their annual Non-Bank Lending Awards. They were named Best Trade Finance Provider 2015 at the international Trade Finance Global Excellence Awards.

Follow Scottish Pacific on Twitter and on LinkedIn

For more information contact:

Kathryn Britt

Cicero Communications

Tel: 0414 661 616

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