ScotPac Business Loans

With offices in Sydney, Melbourne, Perth, Adelaide and Brisbane and over 30 years experience providing finance solutions for a range of Australian small businesses, ScotPac are well and truly an old hand in the world of business lending.

ScotPac business loans - what you need to know

ScotPac (previously Scottish Pacific) aren’t your typical business loans provider. Instead, they offer a unique lending model to suit the specific needs of Australian businesses and help with their cash flow. ScotPac provide access to a variety of finance options including invoice finance, debtor finance, equipment finance and even trade finance. 

Interested in learning more? Check out the table below for everything you’ll need to know about the key features and fees associated with SootPac’s invoice finance.

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FAQs about ScotPac

How are ScotPac’s interest rates determined?

When it comes to the interest rates on invoice finance, ScotPac like to keep things as simple as possible for business borrowers with rates for invoice financing starting from 3.00% per 30 days.

What fees are there?

Aside from the interest rate itself, there a number of other costs potential borrowers with ScotPac should weigh up before taking out invoice finance. Businesses will need to pay a $500 upfront fee, as well as a 2.50% fee for any late payments. However, businesses won’t need to fork out any other ongoing or exit fees.

How does the ScotPac approval process work?

ScotPac understand the need for small businesses to have fast access to funding, which is why they’ve created a simple 10 minute application process. Eligible businesses can be approved on the same day they apply and have access to funding in as little as 24 hours. For invoice financing, approved businesses will have access to 95% of the approved value (minus fees), with the final 5% made available once the invoice has been paid in full.

What do I need to be eligible?

While each individual business will be different, you may need to supply some general information depending on the type of ScotPac financing option you choose to apply for. That could include how long your business has been trading, your revenue, the industry it’s in, as well as details like your ABN. Businesses can even get pre-approval for funding online with ScotPac, or they can apply over the phone.

What features should I know about?
Funding from $10,000 to $150 million

ScotPac really are serious about providing invoice financing to a range of Australia businesses big and small, which is why they offer a range of funding from as little as $10,000 all the way up to $150 million.

Solution finder tool

Not quite sure which funding solution is the right match for your business? ScotPac’s online Solution Finder tool will help put you on the right track starting with just a few simple questions including the amount of funding you need, the time you need it in, how often you’ll require funding and the primary purpose you’ll use it for.

Fast applications

Don’t have the time to spend hours filling out an application and waiting for approval? ScotPac’s application process can be completed in as little as 10 minutes. Businesses can even be approved in the same day and have access to funding within as little as 24 hours.

Phone and online support

ScotPac are big on customer support and making the application process as smooth as possible which is why they have both an online live chat feature as well as a customer support phone number if you’d rather chat over the phone. Businesses can even get pre approval for a ScotPac funding solution online in just five minutes!

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