Announcing the appointment, Scottish Pacific's chief executive officer Peter Langham said Mr Hardiman's role is to help small to medium enterprises (SMEs) in the region grow and improve profitability.
“With more than 20 clients already in South Australia, it was only a matter of time before we invested further in this state to meet the working capital needs of the SME market. In Greg, we have someone with specialised local market experience,” Mr Langham said.
“Greg’s extensive industry expertise, combined with experience financing the South Australian SME market for banks and private lending companies, will help local businesses achieve their growth aspirations,” added Mr Langham.
Mr Hardiman said there are opportunities for Scottish Pacific to help a number of entrepreneurial ventures in the region in sectors including mining, transport and manufacturing, with cash-flow management and working capital solutions.
"We understand the important issues facing business in South Australia and we have a huge opportunity to help support the local economy. I’ve always positively promoted the interests of SA companies and I look forward to offering SMEs reliable funding options to help them achieve growth objectives,” Mr Hardiman said.
Debtor finance has become a mainstream funding option for SMEs in Australia, with the take-up accelerating significantly over the past 10 years.
According to Scottish Pacific, there are currently more than 4,500 Australian SMEs, with combined annual revenues of $65 billion, using debtor finance. The latest figures from the Debtor and Invoice Finance Association (DIFA) show the total debtor finance turnover for the 12 months to the end of March 2014 was $63.7 billion.