Earlypay launches Australia’s first industry-backed ‘Business Finance and Lending Scholarship Program’
Australia’s leading business finance provider, Earlypay, has launched the country’s first tailored Business Finance and Lending Training and Development Scholarship Program for finance professionals. The scholarship program involves an intensive 11-week business finance and lending course that will be delivered online three times per year. The flexibility of the course structure allows professionals to continue their full-time role while undertaking this education opportunity. Earlypay will fund the participation of industry professionals in the course at a cost of $6,500 per head.
Developed in collaboration with leading financial training provider, Accendo Financial, the course has been built using the ELMO Learning Management system and consists of 13 modules designed to equip finance professionals with the knowledge to identify, structure, and implement game-changing finance solutions for Australian businesses.
“The Earlypay Scholarship Program is a game-changer for our industry. Not only will it provide critical hands-on practical training and learning with the mentor support of highly experienced industry experts, it will also contribute to continuing professional development (CPD) with a number of key industry bodies,” Earlypay, National Partnerships Manager, Donelle Brooks said.
“Invoice Finance is one of the most untapped products in the market and actually accelerates the cash that a business has already earned. We want to support professionals who want to be part of the new breed of commercial finance specialists, which means understanding all types of business finance solutions.
“We are excited to be rolling out the course. Each module has been carefully developed to provide key learnings and skill development. They are interactive, include great case studies and also enable ongoing assessment of learner performance through activities, decision points and quizzes. It is an excellent course that meets the very unique finance and lending needs of the business sector. It’s a huge opportunity for anyone who wants to position themselves as an industry-leading commercial broker.”
According to Brooks, providing finance solutions to the business sector involves more than just lending money, it requires an in-depth understanding of a business’ financial situation, the assets available across the enterprise and the operating nature of the organisation.
“In working through these elements, an experienced and knowledgeable finance professional can then determine the cash flow requirements of the business and how these can be addressed,” Brooks said.
“Different types of finance solutions can be used depending on all of these factors.
“For example, businesses that are waiting for their customers to pay their invoices (whether it’s because they have long credit terms or their customers are just slow to pay) face a cash gap that can significantly impact their business. Without payment from their customers, they may struggle to pay their staff or even face delays in starting their next job due to not having enough working capital to purchase supplies. Invoice Finance closes this cash gap and improves cash flow as it enables businesses to access the cash from their outstanding invoices before their customers have paid — so they’ve got the cash available to keep their business moving along, while their customers are free to pay their invoices according to the credit terms.
“A business that is facing a cash gap due to investment in expansion activities or the purchase of new technology, may be able to utilise Sale-back finance to use equity in plant, vehicles or equipment to generate funds for the business.
“Understanding where and how finance can be used to support a business to improve cash flow and fund growth and investment activities can often mean the difference between a business being able to survive and thrive, or dwindling and failing.”
The Earlypay Scholarship Program will be delivered online in a flexible manner by Earlypay and Accendo. Participants will also receive intensive mentoring and support as part of their involvement in the course.
John Sgambelluri, Partner of Accendo Financial, believes the new scholarship program is the most impactful course available in the market.
“The materials, information and templates provided are fantastic however it is the way the workshops are taught that makes it so different. We break down complex terms, provide relevant insights and draw on a wealth of experience to ensure participants walk away with practical knowledge and capabilities across every industry, from agriculture to franchising,” he added.
“There are well over two million small and medium size businesses (SME) nationally and experience within the finance sector has been lost in recent times which has left the SME market under-serviced. The opportunity presents for finance professionals to take this course knowledge into SMEs and help them grow their business. By covering more products and customer types we can assist more businesses during both buoyant and challenging economic conditions.”
Earlypay will deliver ten of the thirteen modules and Accendo will deliver three. Completion of the entire course will equate to over 50 percent of the annual CPD requirement for professionals, from the three main industry bodies – the Finance Brokers Association of Australia (FBAA), the Commercial and Asset Finance Brokers Association (CAFBA) and the Mortgage and Finance Association of Australia (MFAA).
“The launch of Earlypay’s Training Scholarship Program demonstrates our deep commitment to the industry and our desire to see the business finance sector evolve to continually meet the fast-changing needs of business. We will fund participation of industry professionals in the course every year at our cost. Members of our team will support the delivery of the course and provide ongoing support to participants during the course and once they complete it – as part of the Earlypay alumni,” Brooks continued.
“The first course will commence on 25 July. We are now accepting expressions of interest for the course. Simply jump on to our website earlypay.com.au and click on the application form and submit your interest online. Course applications for trimester two will be open until 29 June 2022.”
Earlypay Training Scholarship Program Course Dates for 2022
Trimester 2, 2022
Expressions of interest: 6 June – 29 June 2022
Course participants announced: 15 July 2022
Course timeframe: 25 July – 7 October 2022
Trimester 3, 2022
Expressions of interest: 1 August – 26 August 2022
Course participants announced: 9 September 2022
Course timeframe: 26 September – 2 December 2022
