Greensill Welcomes ASBFEO Support of Its Fair Payment Terms for SME Suppliers

19th August, 2020


Greensill welcomes a statement from The Australian Small Business and Family Enterprise Ombudsman (ASBFEO) supporting the action Greensill has taken to cut services to clients that have poor payment terms for SMEs and calling on other supply chain finance providers to follow suit.

Greensill has taken decisive action in Australia to ensure that clients do not use its supply chain finance (SCF) to push out payment terms to small business suppliers, issuing discontinuance notices to those that continue to do so.

Kate Carnell, Australian Small Business and Family Enterprise Ombudsman, states: “Greensill has shown that supply chain finance providers can lead by example by cutting off clients that fail to pay on time. This should be the position adopted by all supply chain finance facilitators.”

Lex Greensill, founder and CEO of Greensill, said: “We are delighted that the ASBFEO has welcomed our action to protect small businesses. Small businesses are the backbone of the Australian economy and must be treated fairly.”

Full statement from the ASBFEO here.

About Greensill

Reformers at heart, Greensill challenges the status quo by working to make global finance fairer and levelling the playing field for all businesses and people alike. The company unlocks capital so the world can put it to work.

Founded in 2011, Greensill is headquartered in London with offices in New York, Frankfurt, Chicago, Miami, Singapore, Bogota, Shenzhen, Abu Dhabi, Johannesburg, Sydney, Warrington and Bundaberg. Greensill provides innovative financing solutions to customers across Europe, North America, Latin America, Middle East, Africa, and Asia – injecting more than $143 billion of financing in 2019 to more than 8 million customers and suppliers across more than 175 countries.


< Back to News

Visionary, Bold, Disruptive

Each month, Greensill’s team of experts contribute to the latest insights and analysis, setting the agenda and leading the discussion on unlocking capital so you can put it to work.

Whitepaper

27th July, 2020

Doctors Go Digital

A new digital partnership has developed solutions that enable the NHS to cover staff shortages more efficiently, provide on-demand pay for doctors working additional locum shifts and can potentially reduce the NHS annual agency bill for temporary staff.

Whitepaper

16th June, 2020

Fair Finance in Latin America

Greensill is rapidly scaling up to offer Latin American businesses a much-needed lifeline and fairer access to finance. Learn how a new Greensill partnership aims to unlock $750 billion of working capital across Latin America.

Whitepaper

22nd April, 2020

Drive to Survive: Funding the Automotive Future

Covid-19 and regulatory pressure present incredible challenges for the automotive industry, but investments in the future of transportation offer a path forward. Learn how Greensill is helping to fund the automotive future.

Whitepaper

6th March, 2020

Spotlight on Suppliers

Greensill founder and CEO Lex Greensill understands the difference a steady stream of reliable working capital can make to a small business. Hear from the businesses and people who rely on Greensill to make finance fairer for all.

Sign up to monthly insights in our Newsletter

Subscribe to the Greensill monthly newsletter to discover the latest in news, views and insights in the world of balance sheet optimisation, working capital and supply chain finance. Join the discussion today.