Scottish Pacific Business Finance – Export Working Capital FinanceOverview
This program seeks to provide additional working capital support to SME businesses looking to access international markets. It aims to help businesses turn their ideas and opportunities into sales and grow their business in overseas markets.
The objectives of the program are to:
- Keep the business growing through access to additional working capital.
- Prevent business being lost to an overseas competitor.
- Unlock working capital, which can help finance additional contracts.
Scottish Pacific partnered with Export Finance and Insurance Corporation (EFIC) to provide the working capital gap of exporters. Efic can assist by providing a working capital guarantee to Scottish Pacific if the business do not have the assets that are required as security to approve a working capital facility.
An Efic guarantee can support an application to finance a contract where the payment terms are outside Scottish Pacific’s usual credit criteria. The guarantee provides security to Scottish Pacific, enabling them to lend the additional working capital needed to finance an export contract, multiple export contracts with different buyers or to finance involvement in an export related global supply chain.
Scottish Pacific are looking to help in all areas of the working capital cycle, for businesses with borrowing requirements from $10,000 up to $30 million.
Eligible applicants include Australian small to medium sized (SME) businesses that have:
- Potential customers outside Australia.
- The confidence to pitch for their business.
- The capacity to meet overseas orders.
- Lack of funding.
- Business that plays an integral role in the supply chain for Australian exporters.
- Research & Development
- Business Support