ScotPac launches Cash Line funding solution to turbocharge SME cash flow
Australia’s leading non-bank business lender ScotPac has launched a new funding solution for SMEs that gives fast and fuss-free access to cash-on-call, with no minimum repayments and no need for property security.
Cash Line operates like a flexible line of credit, providing eligible businesses with fixed-limit credit up to $250,000 over a minimum 12-month period.
As Cash Line funds are secured against business assets, the stress and inconvenience of recurring principal repayments and property encumbrances are removed.
All that businesses need to apply is a cloud-based accounting package like Xero, MYOB or Quickbooks, with connected bank accounts.
ScotPac CEO, Jon Sutton, said Cash Line is a quick and easy way for business owners to ensure they have cash-on-call when they need it.
“Cash Line helps SMEs maximise their cash flow so they are always ready to seize new opportunities without delay,” Mr. Sutton said.
“ScotPac understands that not every business owner can or wants to use their family home as security for a business loan. That is why we take a different approach.
“We look at the potential of the businesses we support, rather than the owner’s property assets. That gives SMEs the financial freedom to grow without traditional constraints.
“At ScotPac, we are always looking for new and better ways to give SMEs a better chance of success. That is what Cash Line delivers.”
Cash Line is the latest ScotPac product made possible by its significant investment in leading technology platforms in recent years.
Cash Line by ScotPac – key features summary:
- Fast funding: Approvals within 24 hours, with funds deposited within a further 24 hours.
- Maximise cash flow with no principal repayments: Fixed-limit loans from $50,000-$250,000 over a minimum of 12 months, with no principal repayments.
- Capital without the need for property security: Business borrowing often requires the family home as security. Cash Line removes this limitation.
For more information, visit the Cash Line page on the ScotPac website.
