Allianz strikes debtor finance deal with Steadfast
Allianz Australia has signed a national distribution deal with cluster group Steadfast that will see member brokers add a new income stream through debtor finance.
Debtor finance allows brokers’ clients to access up to 90% of the value of sales within 24 hours of the transaction.
Allianz says demand for the facility is growing as firms face increasing cashflow constraints.
Finance CEO Brad Bartlem told insuranceNEWS.com.au brokers will be paid a trail commission under a spot-and-refer agreement with Steadfast. He says brokers have already shown strong interest in the product.
“It appeals to anybody that needs to smooth out their cashflow,” he said. “There are some industries that it suits better than others. We’ll sit down with brokers and talk through their customer base to see who this would ideally suit.”
Debtor finance allows brokers’ clients to access up to 90% of the value of sales within 24 hours of the transaction.
Allianz says demand for the facility is growing as firms face increasing cashflow constraints.
Finance CEO Brad Bartlem told insuranceNEWS.com.au brokers will be paid a trail commission under a spot-and-refer agreement with Steadfast. He says brokers have already shown strong interest in the product.
“It appeals to anybody that needs to smooth out their cashflow,” he said. “There are some industries that it suits better than others. We’ll sit down with brokers and talk through their customer base to see who this would ideally suit.”