Octet Finance has launched Australia’s first business-to-business credit card, which will provide both unsecured and accelerated working capital finance for SMEs in both their purchasing and sales cycles.
This follows the successful launch in February 2008 of Octet’s pioneering business-to-business credit card facility for imports into Australia from China and Hong Kong.
Octet says the major benefit of the Octet Trading Card is that it enables Australian businesses to fund growth without putting up personal or business assets as collateral.
Similar to a consumer credit card but with a much higher facility limit, the card will allow businesses to reduce the critical timing gap between their cash outflow from purchases and cash inflow from sales.
Octet’s managing director, Clive Isenberg, claims the Trading Card will help SMEs accelerate their cashflow.
“This is a fresh approach to providing finance for Australian businesses,” he says. “It is unique in that it allows SMEs to both rapidly collect money that is owed to them by their customers/buyers and provides them more time to pay their suppliers/sellers.
“The Trading Card will allow small businesses in this country to reduce their working capital cycle, which is often the fault line for many growing businesses, especially in their establishment phase.”
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