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The deal will allow clients to easily access both firms’ products as well as preferential premiums and rates.
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ScotPac, Gallagher partner for better SME finance and insurance services
24 May 2024
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Debtor and trade finance company ScotPac and insurance broker Gallagher have inked a preferred partner agreement to create a “one-stop-shop” for finance and insurance services targeted at small- to medium-sized businesses.
The deal would allow clients of ScotPac and Gallagher access to both firms’ finance and insurance products as well as preferential premiums and rates.
ScotPac group executive Craig Michie (pictured) said the agreement with Gallagher was a “win-win” for both businesses and their clients.
“ScotPac is delighted to partner with another leader in its field who can provide our clients with a complementary and critical professional service,” he said.
“Both of our businesses have specific expertise in working with SMEs directly, and with large broker networks, to give them every chance to succeed.”
“We look forward to our clients reaping the benefits this partnership will bring, especially the peace of mind of knowing they have access to all the finance and insurance products and advice they will ever need.”
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ScotPac is Australia’s largest non-bank provider of invoice finance for SMEs and has grown its client base by 400 per cent in the past three years. Gallagher, based in the US, has over 30 branches and 125,000 business clients across the country.
Gallagher managing director of partnerships Andrew Whittle said partnering with ScotPac was a “natural fit” due to both businesses’ expertise in dealing with SMEs.
“Partnering with ScotPac is a natural fit for our business in terms of our national SME reach, our distribution models and our tech-enabled delivery platforms,” Whittle said.
“It is all about providing solutions that will make running a business easier for our SME clients. We look forward to working with ScotPac to help our clients make more informed decisions about their business finance, insurance and risk needs.”
The deal would allow clients of ScotPac and Gallagher to have greater access to finance and insurance services through a “cross-referral partnership”, saving SMEs time when searching for complementary services, the companies said.
Services available included business loans ranging from $10,000 to $4 million, asset finance, public liability insurance, professional indemnity insurance and mobile plant and equipment coverage.
Clients of both businesses may also become eligible for preferential premiums or rates and cost savings.
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