Debtor finance specialist Cashflow Finance has become the latest addition to the aggregator’s lender panel, providing brokers with access to more invoice finance products.
Connective brokers will now have access to Cashflow Finance’s products, which enable small- to medium-sized enterprises (SMEs) to leverage their unpaid invoices to provide immediate working capital for their business.
The lender typically provides 80 per cent of the invoice total within 24 hours, with the remaining 20 per cent (less fees and charges) deposited the day the invoice is paid.
Facilities are available up to $10,000,000 with no bricks and mortar security required.
The lender is also offering an equipment finance product and an unsecured trade finance offering.
In light of Connective’s latest SME lender partnership, Brent Starrenburg, head of Connective Asset Finance, commented: “We are delighted to have Cashflow Finance join our growing lender panel.
“With access to SME finance remaining tight through traditional channels, it’s important that we provide our brokers with as many options as possible to assist their clients to fulfil their funding requirements.”
He continued: “Debtor finance has historically been viewed as an instrument to simply overcome short-term cash flow constraints.
“This mindset is changing, however, with many Australian SMEs today engaging debtor finance more strategically – whether to leverage the enhanced cash position to employ more staff, for capital expenditure, or to take advantage of acquisition opportunities,” Mr Starrenburg said.
Mark Cleaver, managing director of Cashflow Finance, said the lender was “thrilled” to join the Connective panel and “realises the critical role of brokers in the SME lending space”.
“With the finance landscape changing, we are excited to work closely with Connective and their brokers to understand the challenges they face and create innovative invoice finance solutions for their clients that allow them to achieve their growth aspirations,” he said.
[Related: Non-bank partners with Connective]