Scottish Pacific Business Finance closes its UK operation


Scottish Pacific Business Finance has announced that it will be settling no new working capital facilities in the UK with effect from 6 February 2019 and will be supporting existing clients until the end of April 2019

Scottish Pacific launched in the UK business four years ago to service the import finance market and then introduced an invoice finance capability two years later. During that time the influx of unsecured lenders has led to both markets becoming oversupplied. After an extended period of review, and despite making several changes they have made the tough decision to close the UK office.