In running a business it takes a lot of things to make the business run smoothly, one of the things that can help it is to have sufficient funds. Well, this problem is often found in a business or business, starting from the imbalance of incoming and outgoing funds, the process of disbursing bills that are ‘delayed’ time and several other problems. These problems usually arise and will make our business or business experience a decline.
Therefore, to overcome such problems you need to make money in your business more smooth, the way you can apply for a loan using a Purchase Order as collateral, because Lite Lenders has a product called PO financing.
Then what is a Purchase Order (PO) Financing?
Purchase Order Financing is a financing option for companies or businesses that need funds to meet the needs of the business. As discussed above, the problem of imbalance in and out of funds is one of the main problems in the running of a business, even though you need to rotate these funds for the running of your business operations.
Therefore, the system of PO financing can certainly facilitate you in maintaining stability, providing products and services so as to reduce costs to a minimum.
If you are experiencing financing problems with your business and you want to apply for a loan, you can guarantee your Purchase Order at Lite Lenders.
What are the benefits of applying for a loan with a Purchase Order Financing?
The advantage of applying for a loan using PO financing is that if you don’t have the funds to prepare the order while the demand is there, then you can guarantee the Purchase Order to Lite Lenders to be guaranteed. With this you can still process existing orders with the loan funds.
The process of submitting a Purchase Order Financing at the Acceleration
Acceleration as a loan provider by using a Purchase Order (PO) as collateral, makes it easy for you who want to apply for a loan using PO financing.
The process is very easy, you can register directly through the website or the Acceleration application after that submit a loan. After the Purchase Order (PO) is analyzed and verified, then after it is declared eligible to be given a loan, then the submission is immediately processed. For Purchase Orders, prospective borrowers will get a loan fund of 60% – 70% of the value of the Purchase Order.
The loan interest in Acceleration is in the range of 18% – 21% per year. But it should be noted that on average SMEs usually apply for loans with a 3-6 month tenor, so borrowers only incur interest costs of around 4.5% – 9%. Another cost to note is Origination Fee of 0.25% per month. If borrowing with a tenor of 3-6 months, then the cost of the Origination Fee is only around 0.75% – 1.5%.
With a Purchase Order, the business you run will get a loan that is easier and of course at a more affordable cost.
What kind of borrower can file?
Borrowers who can apply are SMEs or businesses that find it difficult to get loans from banks due to the absence of fixed assets as collateral, transacting business to business (B2B), and having a verifiable Purchase Order.
Additional criteria for prospective borrowers namely the business must have been running for at least one year and already have a profit. Then, added supporting documents such as annual financial statements that include profit and loss statements, checking accounts for the last 3 months, and Trading Business License (SIUP).
After completing uploading the document, the next process is the analysis and selection of credit scoring.