back Back

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

By Gloria Mathias

March 15, 2024

  • APAC news
  • Australia
  • Cash Line
Share

SoftPac, Fintech Funding, Fintech News, Fintech Solutions, SMEs, SME Solutions, Fintech SMEs, Fintech Funding Product, SME Funding, SMBs, Cash Line, Australia, APAC News, 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.

Previous Article

March 15, 2024

NatWest takes minority stake in FinTech Icon Solutions

Read More
Next Article

March 15, 2024

Mastercard partners with FinTech Sava to support SMEs in Africa

Read More








IBSi Daily News Analysis

Generative AI

April 12, 2024

APAC news

Security experts sound the alarm on Deepfake threats in the age of AI

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

April 12, 2024

Navy Federal Credit Union expands partnership with Backbase

Read More

April 11, 2024

FinTech Optasia secures PFTSP license by the Bank of Ghana

Read More

April 11, 2024

Experian set to acquire illion in Australia and New Zealand

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023