The new general manager of a cash flow lender has offered brokers “generous upfront and ongoing commission” in exchange for referrals.
Debtor finance firm Scottish Pacific has appointed Greg Charlwood as general manager of its specialist cash flow business, FactorONE.
Mr Charlwood, who previously founded three factoring businesses, has been hired to help FactorONE grow its market share nationally, particularly in NSW and Victoria.
He told The Adviser that FactorONE could work with brokers to quickly solve their clients’ cash flow problems.
"Mortgage brokers can benefit in two key ways – firstly, generous upfront and ongoing commission, and second, the broadening of their source of income streams,” he said.
“Brokers can choose the extent to which they want to be involved in a deal. Some like to meet the debtor financier with their client, others prefer to just make a referral.”
Mr Charlwood said FactorONE respected the “primary relationship” between broker and client.
Scottish Pacific chief executive Peter Langham said brokers are a key source of new business opportunities for both Scottish Pacific and FactorONE.
“Debtor finance is a great tool for a growing business. For brokers, if your client’s business grows and you have a relationship with them, then you are going to see the benefits,” he said.
[Related: Scottish Pacific wins non-bank award]