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
Features
Credit Facility Tenor
Revolving line of credit for 1 year
Financing Tenor
Maximum financing tenor up to 90 days
Financing Amount
Maximum financing amounts up to 100% of invoice amount
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 |