SME Bounce Back Fund
SME Bounce Back Fund - Extended to 30 June 2022
ScotPac has been committed to providing support to you, your business and your clients in whatever way we can throughout the pandemic.
With the economy starting to open and business owners looking to bounce back to growth, ScotPac is introducing a $100m working capital fund that will enable new clients to access up to $1million in working capital funding for three months interest free*.
The fund was initially intended to cease in April 2022; however, ScotPac has extended the fund until 30 June 2022 as part of its ongoing commitment to provide flexible support for SMEs.
Who is it for?
- SMEs who are needing fast access to additional funds to invest in their business and get back on their feet as the economy reopens.
- Available to new ScotPac clients or clients looking for additional funding for Debtor Finance or Trade Finance facilities up to $1million.
How does it work?
- Applications will be considered on a ‘first come’ basis and has been extended to end on 30 June 2022 or until funds are dispersed.
- On approval – you will pay no interest* for the first three months – the initial interest cost is being completely waived for the business owner and borne by ScotPac, as opposed to being deferred and compounded like the loan repayment holidays offered by some banks.
- As a broker, you can refer as you normally do today and you will still receive full commission for referrals even if your client takes advantage of the fund.