Why Factoring?
Factoring loans are a useful tool for businesses to gain access to funds with receivables.
Customisable according to business needs
No minimum business operating time
For Singapore-Registered Businesses
Minimum 30% shares held by Singaporean or PR Director
Facility limit of up to $3M
Up to 90% of invoice value
Loan tenure up to 180 days
High-risk industries accepted (eg. construction, marine, manpower, services)
Early-stage funding available for construction industry
Convenient Giro Payments
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Participating Financial Institution of
The Advantages You Will Get
We have in place structures on how to strategise for your businesses' protection and preservation in the current age of technology and sustainability.
How Does It Work?
How does it work?
Take a look how to apply our product financing. It's so simple and easy to apply
Application and approval
The application will typically require information about the business, including financial statements and accounts receivable aging reports.
Sale of accounts receivable and loan disbursement
Once the loan is approved, the business will sell its accounts receivable to the finance company at a discounted rate, typically around 70-90% of the face value.ectly from the financing company, allowing you to fulfill your orders and maintain positive relationships with your suppliers.
Loan servicing and repayment
During the loan repayment period, the finance company will provide loan servicing, which includes collecting payments from the business's customers and updating the loan account information.
Pilon
Learn how Pilon Plus - a cloud-based app - can help your business access reverse supply chain financing to provide significant and strategic cashflow for you.
FAQs
Yes, we do not have any minimum for business operating time, so even startups can use this financing option as long as they have invoices as collaterals - as long as your business is registered in Singapore.
There’s no minimum amount for this financing option as the loan amount is based on the value of the invoices.
The monthly repayments for the loan will be done through GIRO.
- Latest 2 years financial statements
- Latest aging list (payable and receivables)
- Latest 6 months bank statements
- Director(s) and Shareholder(s) NRIC or Passport, latest 2 year NOA and CBS report
- Additional documents may be required. This is determined on a case by case basis. Our team will reach out to you once your application is received.
Some common fees and charges that businesses may encounter when obtaining factoring loans include : Factoring fee, Service fee, Reserve account fee & Late payment fee
The following steps are involved : Application, Due diligence, Approval, Acceptance, Invoice submission, Funding.
Businesses typically make monthly repayments for factoring loans based on a repayment schedule provided by the factoring company. Payment options may include electronic funds transfer, direct debit, or online payment portals, and some factoring companies may automatically deduct the repayment amount from the business's bank account. The factoring company may hold a portion of the advanced funds in a reserve account to cover any unpaid invoices or customer disputes, and late payments may result in fees and/or interest charges.
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