Earlypay welcomes Tony Harmey as BDM

Mr Harmey has nearly a decade of experience working in the SME finance space and was most recently the national head of sales and relationships at Apricity Finance (now in administration).

He took on the newly created position at Earlypay on Monday (17 April).

As BDM, he will be focused on supporting his extensive introducer network with their SME clients who are seeking working capital solutions. 

He will focus on invoice finance facilities ranging from low-doc debtor finance customers up to customers requiring $10 million invoice finance facilities.

Speaking of the new hire, Earlypay’s national partnerships manager, Donelle Brooks, commented: “Having someone with Tony's experience, personality and tenacity is a great asset to the Earlypay team. 

“We're glad to have him on board and he has hit the ground running.” 

Mr Harmey stated: “After a fantastic nine years with Apricity — building great relationships with clients, colleagues and referrers — I am excited by the opportunities that working for Earlypay will provide.

“I have worked with the team there several times over the last few years and very quickly already have become part of that team.”

While Mr Harmey said he would be “finding [his] feet” in the first few weeks, he added: “Those that know me know I am a little ‘technologically challenged … but I’m definitely a people’s person and can’t wait to connect with everyone on the road, or at events, in the coming months!”

Apricity Finance goes into voluntary administration

Invoice finance lender Apricity Finance suddenly shut down operations this month, after administrators were called in.

While details of why the administrators were called in have not yet been released, it is believed that the company had a large exposure to companies in the construction and building industry, which has been suffering from a series of collapses and wind-ups in the past year.

The move to place Apricity Finance Group Pty Ltd into administration came a week after funding specialist GCI Funds (FCI) appointed Alan Hayes and Wayne Marshall of Hayes Advisory as joint receivers and managers to Apricity Transasia Pty Ltd — a separate entity under Apricity Finance Group Pty Ltd.

GCI funded a single, specific funding vehicle of Apricity Transasia Pty Ltd and was the secured lender over all the assets of that entity. It, therefore, called in receivers to enforce its security over the Apricity Transasia Pty Ltd assets.

However, the full group has now entered administration and ceased trading, with the Apricity website now offline.

[Related: Apricity enters administration, debtor financiers step up for broker clients]