Alternative Lender Reports Spike in New Client Take-ons

Australian financing company OptiPay has reported issuing more than $25 million in new facilities since the start of this year – nearly a tenfold increase – as rising rates and surging cost of living make access to traditional funds tougher for many businesses.

“We’ve had a huge spike in broker-driven enquiries as access to capital becomes more difficult for many businesses,” said OptiPay CEO Angus Sedgwick (pictured above). “Banks are becoming more risk-averse in the current climate and it’s forcing many businesses to look at alternatives to maintaining their cash flow.”

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