Login or request a free trial

SME lenders merge

Finance company Scotpac has acquired rival SME lender Business Fuel, in a deal that will give Scotpac the capability to offer business loans online for the first time.

Operating online, Business Fuel provides business loans from A$10,000 to $250,000 with terms up to 24 months. The company was launched in 2012 and has funded around 5600 SMEs.

Scotpac chief executive Jon Sutton said in a statement that the investment in Business Fuel’s data-driven lending platform would give the company access to a significant new part of the SME market.

Scotpac has been a specialist in debtor, asset and trade finance but last year launched a new range of secured business loans.

I'm a returning subscriber

Password reset
Login

Request a free trial

  • Emailing you the news at 7am.
  • Covering core lending and funding issues, strategy, payments, regulation, risk management, IT, marketing and more.
  • Original news and summaries of major stories from other media – ditch your newspaper subscriptions.
  • Focused on banking and finance, saving you the time spent wading through newspapers and other services.
  • With reporting from former editors and senior writers from the AFR and The Australian.
  • Configured for your phone, laptop and PC.
Free trial Banking Day