Australian Invoice Finance makes key regional appointment

Portrait of Gary Green, Austif Senior Manager for Western Australia and South Australia

Australian Invoice Finance (AIF), the rapidly growing challenger to dominant players in the Australian cash flow finance sector, has made a significant regional appointment.

Banking and cash flow finance veteran Gary Green has been hired by AIF to set up its Western Australia and South Australia operations and spearhead sales growth in both regions. Since launching in August last year AIF has signed up new clients in five out of Australia’s six states and is exceeding growth expectations.

Mr Green, who is based in Perth, most recently managed sales and operations for Scottish Pacific’s South Australia cash flow finance business. Prior to that he was Australian sales director for Bibby Financial Services over a seven-year period, based in Perth.

The appointment brings together three key Bibby executives, who will now join forces to take on the market leader. Mr Green joins AIF managing director Greg Charlwood who was a member of Bibby’s international board and CEO of its Asian and Australian businesses, and Matthew Erwin, AIF’s senior manager NSW.

Mr Charlwood said AIF’s fast start showed established cash flow finance players were not meeting the needs of SMEs, especially smaller companies. AIF offered to pay up to 85% of unpaid invoices without asking for property as security, 24-hour approvals and greater flexibility for clients going through challenging periods.

“Gary’s tremendous experience, his networks and his understanding of SME needs will help us grow our business stronglyoth regions. He has grown cash flow finance businesses from the ground up before and we are confident he can repeat this success,” Mr Charlwood said.

Cash flow financing is a form of lending in which a loan is backed by a company’s expected cash flows, which can be determined by the value of outstanding customer invoices for work done or goods sold. Cash flow financing companies guarantee to lend a set percentage of these unpaid invoices now with the balance paid, less a fee, when customers pay the outstanding invoices.

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