Real Deals

SP 30yr AUS

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.

sp glassWhy Progress Claim Finance?

Our client specialises in the fabrication and installation of glass, aluminium frames and glazing for commercial and residential applications. A new opportunity arose with a major development company however in order to meet the increase volume of demand, our client required an additional injection of cash and ongoing working capital. With Progress Claim Finance in place, our client was not only able to free up funds from their existing stage claims, but also remove a caveat on personal property which allowed a further $100,000 to be raised and invested back into the business. An overdraft had already been approved by a bank, however could not release the same level of funding and would not scale with the business.

 

Why Scottish Pacific?

Their accountants identified there was a shortage of working capital within the business and having a good understanding of the Scottish Pacific business and our product offerings, they recommended us to the client for our ability to release funding against stage claims raised under the Security of Payments Act. With additional funding advanced against their stage claims, and reliable cash flow our clients now have the confidence to undertake new contracts with major development companies.

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

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