IDT has secured a new loan facility with ScotPac

IDT Australia Limited (ASX: IDT) has secured an AU$20 million asset-based loan facility with Scottish Pacific Business Finance to support its growing sales pipeline and capitalize on recent contract wins. This facility replaces the existing AU$4.7 million facility with National Australia Bank and reflects IDT's strategic commitment to scaling its operations in response to increased demand domestically and internationally.

The facility, set to settle in January 2025, features a 36-month term and an interest rate of 10.60% per annum. The loan is secured against IDT's assets, including property, equipment, and receivables. With a 91% YoY increase in operating revenue to AU$12.3 million for FY24 and a 70% rise in Q1FY25 revenue, IDT is positioned for continued growth.

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