Debtor finance industry veteran Greg Charlwood has been named to the role.
FactorONE, established in March 2011, provides fast cash flow assistance to smaller businesses and SMEs experiencing short-term cashflow pressures.
Scottish Pacific CEO, Mr Peter Langham, said Mr Charlwood's expertise would ensure FactorONE grows its market share nationally, with a greater focus on opportunities in NSW and Victoria.
"The FactorONE business model allows us to support a wider range of businesses and provide quick, flexible solutions to businesses outside our regular Scottish Pacific client base," Mr Langham said.
"We established FactorONE to provide rapid cash flow solutions to smaller businesses that needed a more immediate solution”.
"Greg is well respected in debtor finance and his high calibre skills will help drive the growth of FactorONE and also enhance Scottish Pacific's national executive team."
Mr Charlwood has had a long career in debtor finance and has established and managed some of the major debtor finance businesses in Australia.
"The SME space is a tough one to operate in – we understand that and want to help the SME operator," Mr Charlwood said.
"It's great to be leading a business that is helping entrepreneurs and small businesses, the backbone of the Australian economy," added Mr Charlwood.