CML Group Limited (ASX:CMR) CEO Daniel Riley presents finance options for SMEs looking to get paid faster and invest in plant and equipment at FNN's Event.
CML (ASX:CMR) launched an equipment finance division in July 2017, operating at Cashflow Equipment Finance.
Loans range from $20,000 to $500,000 focussing primarily on funding second-hand transport and yellow goods.
The division settled over 50 transactions in the first 6 months of operating.
The division has experienced significant cross-selling, both from Invoice Financing into Equipment Finance and vice-versa.
It has receivables of $7 million and is performing ahead of expectations.
The company now anticipates the division reaching profitability by FY18 and will make a positive contribution to earnings in FY19.