Inside Retailing
22 September 2008
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.
"The Octet Trading Card dynamically assists businesses to
accelerate their cash flow", says Clive Isenberg, Octet’s Managing
Director. "This is a fresh approach to providing finance for Australian
businesses. 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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