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.

Scottish timber sawmillWhy Debtor Finance?

This Sawmill business cuts hardwood timber into standard building lengths and sells both ‘green’ timber for furniture making and kiln dried structural timber. The business has a long lead time of 6 – 10 months between purchasing sawlogs and the final production stage for their kiln & air dried timber, which results in a large inventory requirement thus tying up cash and putting pressure on working capital.

Why Scottish Pacific?

The directors had recently refinanced their banking facilities (including debtor finance) from a ‘Big 4’ bank to a regional provider. Seeking further funds to meet supplier payments, they considered returning to their former bank for a debtor finance solution, but that would have meant a second complete refinance and they were concerned at the time this might take. The director consulted his long term equipment finance broker, who suggested Scottish Pacific could co exist with their regional banker and deliver a quicker approval and settlement timeframe. The broker made immediate arrangements for an indicative offer to be provided and a day trip visit by our Business Development and audit staff.

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

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