Each Scottish Pacific client is supported by super-efficient, diverse and friendly sales and operations team members.They are without a doubt an invaluable extension for any small to medium size business. Pictured here are team members (left to right), Baldish, Linda, Shirley and Maria.
Few in the financial industry are as trusted as Scottish Pacific Business Finance, Australasia’s “largest specialist provider of working capital solutions” for small and medium sized businesses, with fully operational offices in Sydney, Melbourne, Brisbane, Perth and Auckland. Each hub is helmed by its own general manager, while the cumulative finance experience of the executive management team stretches for more than a century. The multi-award-winning institution, now into its fourth decade, has been voted the best cashflow lender at The Adviser magazine’s Non-Bank Lender Awards three years on the bounce. Further cementing the respect that Scottish Pacific commands among its peers, more than 80 percent of new clients are referred through accountants, banks, commercial finance brokers and similar such business advisers.
“It was actually my accountant who recommended Scottish Pacific to me when my business was about to have huge growth,” says Debbie, who heads an Auckland-based recruitment and contractors agency. “I can say that, without fail, I wouldn’t have been anywhere near as successful without them.”
Debbie continues that whenever she has a problem, or is seeking to expand or “do new things”, she simply picks up the phone. “They’ve always said that not to worry if there’s something I’m struggling with, to just go talk to them and they’ll try to make it happen, whether it be financial or general business advice. The support is amazing.”
Such sentiments are echoed by Jennifer, who runs a boutique media and advertising company, also in Auckland, with business-partner Danni. “We are a small business so choosing Scottish Pacific was a no-brainer,” she says. “We have an assigned account manager who we liaise with on a daily basis. If we have clients that are slow payers or don’t pay at all, then Scottish Pacific follow it up—I must email them six times some days! And they’re always available for phone calls.”
This is especially pertinent in the advertising industry where regular clients often become friends.
“It removes the stress of us having to call up about unpaid invoices,” Jennifer continues. “You are one removed, so that you don’t feel like the bad guy chasing the money! It’s better for our business relationships all round.”
“You can’t run a business without good cash flow,” adds Danni. “Being a small business, it takes time and resources to send out statements and collect bills yourselves. Scottish Pacific removes that hassle. I don’t think that we could operate without them.”
Aside from the hands-on, personal—and personable—approach, Scottish Pacific also operates an online tool called the Client Internet Portal that allows its clients to keep track of their accounts.
“The online system allows you to log in and check up on what’s been done on your behalf,” says Jennifer. “Whether it be the clients who have and haven’t paid, and the phone calls that have been made.”
“It’s also extremely useful for our accountants come the end of the tax year,” says Danni. “They can access those online reports without the need for us to sift though all our paperwork and present it to them. It’s a very efficient system.”
“Once you get a handle on using the that portal, it’s smooth sailing from there,” Debbie says. “And if my main guy isn’t available, then he’ll always call back within the hour. Obviously there is a cost to such a service, but it meant that I was able to grow from a staff of 20 to 200. That’s difficult to do if you’re always waiting for clients to pay.”
Debbie believes that business owners need to get out of the mindset of thinking banks are the only route to business capital.
“I’m a woman in a very male-dominated industry, so to start out on my own was a very big deal,” she says. “Scottish Pacific supported me the whole way and I wouldn’t be sitting where I am now without them.”
Some More on Scottish Pacific Services
Signing up with Scottish Pacific does not entail taking on more debt, rather clients receive advances against money that is already owed. This enables an increase in spending power and improvement in cash flow while freeing up funds tied up in unpaid invoices. Real estate security is never required.
Solutions Include: Invoice Finance
Secured against outstanding money owed to clients, this is aimed at small to medium sized businesses, including start-ups, limited companies and sole traders.Simply invoice a customer, and within 24 hours Scottish Pacific will pay up to 80% of the value of that invoice with the remaining 20% paid (minus fees) once the invoice is settled.
Selective Invoice Financing
This on-demand line of credit allows clients to choose specific invoices they would like funding against, while the flexible fee structure allows the choice of funding periods. The shorter the period, the cheaper the finance.
This form of working capital is aimed at importers and exporters, allowing the former to access funding to pay suppliers before goods have been received and sold for profit; and the latter to funding until an overseas customer has settled their bill.