INVOICE FINANCING (SALES)
Invoice Financing (Sales) is a funded advancement facility provided by the Bank to support the Supplier’s (Borrower’s) sales on account receivables in local trade with nondisclosure to Buyers. It is a type of secured lending and can be applied for any payment method such as cash, banktransfer, and other bank remittance.
Process Flow
![INVOICE FINANCING (SALES) -PF](https://www.abank.com.mm/wp-content/uploads/2022/09/INVOICE-FINANCING-SALES-PF.png)
Features
![Credit Facility Tenor Credit Facility Tenor](https://www.abank.com.mm/wp-content/uploads/2022/07/Credit-Facility-Tenor-60x60.png)
Credit Facility Tenor
Revolving line of credit for 1 year
![Financing Tenor Financing Tenor](https://www.abank.com.mm/wp-content/uploads/2022/07/Financing-Tenor-60x60.png)
Financing Tenor
Maximum financing tenor up to 90 days
![Financing Amount Financing Amount](https://www.abank.com.mm/wp-content/uploads/2022/07/Financing-Amount-60x60.png)
Financing Amount
Maximum financing amounts up to 100% of invoice amount
![Interest Interest](https://www.abank.com.mm/wp-content/uploads/2022/07/Interest-60x60.png)
Interest
Accrued interest to be paid on financing maturity
Eligibility Criteria
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MINIMUM 6 MONTHS of commercial relationship with buyer |
PAYMENT RECORD of each buyer |
NO NPL reported at any bank in the past |
Pricing & Fees
Service Fee | 1% credit facility fee on approved credit limit |
Interest Rate | 10% per annum |
Late Fee | 3% late fee will be charged on overdue outstanding |
Required Documents
1. | Certificate of Incorporation / Business License |
2. | Company Extract from DICA |
3. | NRC Copies and Household List of Authorized Signatories |
4. | Last 3 Years Audited Financial Report and Income Tax Receipts |
5. | Business Profile of Corporate Supplier |
6. | Buyer List, Last Year Sales Volume and Payment Term of Each Buyer |
7. | Collateral Documents |
8. | Financing Request Letter and Meeting Minutes signed by Authorized Signatories |
Benefits
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Gain access to a immediate cashflow that supports a full working capital cycle |
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Strengthen channel relationships and loyalty through supporting supply chain |
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Improve business growth operating efficiency and |