ScotPac launches ‘Cash Line’ to streamline SME cash flow in Australia

By Gloria Mathias

ScotPac, Australia’s non-bank business lender, 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 a 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.

Businesses need to apply in cloud-based accounting packages 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. 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,” added Sutton.

Cash Line is the ScotPac product made possible by its significant investment in technology platforms in recent years.

Cash Line by ScotPac: key features include:

• Fast funding: approvals within 24 hours, with funds deposited within a further 24 hours.
• Maximise cash flow with no principal repayments: Fixed-limit loans range from $50,000 to $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.