Australian Invoice Finance (AIF), the rapidly growing challenger to dominant players in the Australian cashflow finance sector, has made a significant appointment for the Victorian and Tasmanian markets.
Chris Allchin has been hired by AIF as a senior manager to set up its Victorian and Tasmanian operations and spearhead sales growth in both states. Since launching in August 2017, AIF has had significant growth and continues to sign up new clients and help Australian businesses achieve their cashflow needs.
Mr Allchin, who is based in Melbourne, has 11 years’ experience in SME finance, most recently at FactorONE, where he was a business development manager for four and a half years, focusing on management of broker relationships and potential leads in Victoria.
Mr Allchin said he was extremely pleased to be joining AIF after a refreshing six-month break from professional services. “I kept a very close eye on AIF and Greg Charlwood during this time, as a new invoice financier in the market. I am looking forward to working with the AIF team and especially Greg, who is a recognised pioneer in this industry.
“I have always enjoyed working with SMEs, especially businesses in distress, because there is a level of care and understanding that’s required, which I find is not as common as it should be in the debtor finance industry. Ensuring continuity with clients before and after settlement is paramount to ensuring what you put on the table as an offering, is being followed through on,” Mr Allchin said.
This is the third appointment in the past 12 months for AIF after Gary Green, senior manager for Western Australia and South Australia was appointed in February 2018 and Drew Vautin, senior manager for Queensland, came on board in June 2018.
Greg Charlwood, AIF managing director said, “We’re very excited to have Chris join the AIF team as a key appointment. He is a passionate and driven individual who is sure to achieve great outcomes for our clients in Victoria and Tasmania.”
AIF’s fast start showed that established cashflow finance players were not meeting the needs of SMEs, especially smaller companies. AIF offers to pay up to 90% of unpaid invoices without asking for property as security, 24-hour approvals and greater flexibility for clients going through challenging periods.
Cashflow financing is a form of lending in which a loan is backed by a company’s expected cashflows, which can be determined by the value of outstanding customer invoices for work done or goods sold. Cashflow financing companies guarantee to lend a set percentage of these unpaid invoices up front with the balance paid, less a fee, when customers pay the outstanding invoices.