GLDB
Payables Financing
GLDB
Payables Financing

Revolving financing for up to 100% of your purchase invoices settled on open account basis - Free up your cash flow today!

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Last updated on 30/09/2022

What is Payables Financing?

Looking for…

More working capital financing to fuel your business’s growth and expansion?

A way to ease up cash flow pressures?

A system to ensure that your suppliers get paid on time?

Revolving financing for up to 100% of your purchase invoices?

Look no further. 


Payables Financing is a revolving working capital solution which allows you (as a buyer) to receive financing on your purchase invoices settled on open account basis. The loan proceeds under Payables Financing are paid directly to your suppliers.


Financing is post-shipment in nature and up to 100% of invoice value. Financing tenor may be up to 180 days.

Eased up cash flow

Generates cash flow by effectively extending the credit term in addition to the credit term granted by your supplier; The additional cash flows can be used to fund working capital for business growth or other operating expenses.

Flexibility, control and convenience 

Loan proceeds are disbursed directly to your supplier making things hassle-free for you. Finance invoices only when needed; Leverage on GLDB’s digital banking platform for quick and easy drawdown.

Improved relationship with supplier

Tap upon GLDB’s payable financing facility to ensure that your suppliers are paid on time.

Wish to explore other options? Look into GLDB’s Receivables Financing solution if you want to release funds that are locked up as unpaid invoices and convert them into valuable working capital. If you are looking to accelerate cash conversion cycle within a supply chain flow, and advancement of up to 100% of your invoices value, check out GLDB’s Supply Chain Finance solution.

FAQS
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01
Q.
How can I be eligible for Payables Financing?
A.

Your business’s annual turnover is more than SGD 1 million.

Your purchase orders are settled through open account with payment terms between 30 to 180 days.

Subject to GLDB’s internal credit assessment.

02
Q.
How much financing can I get?
A.

Subject to GLDB’s internal credit assessment, minimum credit line under Payables Financing is at SGD 200K. 

For each drawdown, GLDB may advance up to 100% of the underlying invoice value.

We currently support both USD and SGD for drawdowns under Payables Financing. 

03
Q.
What are the interests and fees involved?
A.

Interest rate for GLDB’s Payables Financing loan will be determined based on your credit standing and collaterals provided (if any). It starts from 4.00% per annum.

Interest rates are on floating basis i.e. variable or adjustable interest rates. They can be structured based on Risk Free Rates (RFR) such as SORA for SGD and SOFR for USD or Cost of Fund (COF).

A facility fee at 0.50% flat of the credit limit granted will be charged upfront.

For each drawdown, a handling fee will be charged. It will either be 1/16% on the drawdown amount or SGD 50 (or equivalent) whichever higher.

Prepayment fee applies (refer to Q4).

04
Q.
Am I allowed to prepay my Payables Financing loans with GLDB?
A.

Yes, but only full prepayments are allowed for each loan. A prepayment fee of SGD 50 (or equivalent) applies to every loan prepayment. A notice period of 5 calendar days apply for prepayments too.

05
Q.
What are the documents required?
A.

For applications,

The below documents are mandatory:

Audited Financial Statement (latest 3 years)

Consent for Credit Bureau Search (if personal guarantees apply)


For each drawdown,

The below documents must be provided when you submit your drawdown request through GLDB’s digital banking platform:

Domestic Trade

1.

Copy of Invoice

2.

Proof of Delivery (Delivery Order / Job Completion Certificate / Any document showing the buyer’s declaration to acknowledge receipt of goods or similar wordings)

Export Trade

1.

Copy of Invoice

2.

Proof of Transportation (Bill of Lading/Airway Bill)

Important Notice

The information published by Green Link Digital Bank Pte Ltd (“GLDB”) is for information only. The information contained in the materials on the Website are intended for general circulation only and should not be used as a basis for making any business or financial decisions. Notwithstanding anything in this website, your eligibility for all products and services on this website is subject to acceptance by GLDB. The contents of this website, including the terms and conditions, are subject to change and may be modified, deleted or replaced from time to time and at any time at the sole and absolute discretion of GLDB.
Security advisory to protect yourselves and avoid falling victim to scams. 1. Do not provide personal information, bank account information (including User IDs, Passwords and OTPs) to people you have never met. 2. Do not accept any requests from online acquaintances or unknown persons for bank transfers. Practise good cyber hygiene to minimise the risk of cyber threats. 3. Do not click on links or open attachments found in suspicious looking emails or SMSes. Ensure that your email account has not been compromised. 4. Ensure that your bank account is used only for your corporate banking needs and do alert the bank immediately if you find any discrepancy or unauthorised transaction on your bank statements. If you suspect that you have responded to a scam and disclosed your personal or bank account information, please email GLDB at FraudReporting@glbank.com.
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Security advisory to protect yourselves and avoid falling victim to scams.

1.

Do not provide personal information, bank account information (including User IDs, Passwords and OTPs) to people you have never met. 

2.

Do not accept any requests from online acquaintances or unknown persons for bank transfers. Practise good cyber hygiene to minimise the risk of cyber threats. 

3.

Do not click on links or open attachments found in suspicious looking emails or SMSes. Ensure that your email account has not been compromised. 

4.

Ensure that your bank account is used only for your corporate banking needs and do alert the bank immediately if you find any discrepancy or unauthorised transaction on your bank statements. If you suspect that you have responded to a scam and disclosed your personal or bank account information, please email GLDB at FraudReporting@glbank.com.

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