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

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

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Financing facility is subject to GLDB’s internal credit assessment.

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The Payable Financing limit will depend on the business’ credit profile and standings. The financing amount will be subject to GLDB’s internal credit assessment and approval. 

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

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Presently, we support both USD and SGD for drawdowns under Payables Financing. 

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Interest rate for GLDB’s Payables Financing loan will be determined based on your credit standing and collaterals provided (if any).

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Interest rates are on floating basis i.e. variables or adjustable interest rates.

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A facility fee based on the credit limit granted will be charged upfront.

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For each drawdown, a handling fee will be charged.

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Prepayment Fee applies (refer to Q4).

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Borrower is only able to perform full prepayments under GLDB’s Payables Financing loan.

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A prepayment fee will be chargeable to every loan prepaid. A notice period of 5 calendar days apply for each prepayments performed.

For applications,

The below documents will need to be furnished:

• Audited Financial Statements (latest 2 years)

• Bank statements from Company’s Main Operating Account (latest 6 months)

• Consent for Credit Bureau Search (if personal guarantees apply)

• Income Tax Notice of Assessment (latest 2 years if personal guarantees apply)

The Bank may request additional documents necessary to better assess your credit profile and standings.

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)