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

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

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Your business’ eligibilities are subject to GLDB’s internal credit assessment.

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The Receivable 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 90% of the underlying invoice value.

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

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Interest rate for GLDB’s Receivables 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. variable 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 Receivable Financing loan.

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

For applications,

The below documents are mandatory:

• Audited Financial Statement (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)

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Unlike Supply Chain Financing (a.k.a. Reverse Factoring), GLDB’s Receivables Financing facility does not involve the true sale of receivables from you to the bank (i.e. bank has full recourse to you as the supplier in the event of non-payment from your buyer). Instead, you may be required to assign the receivables to the bank. We will notify your buyer of the assignment in the event that your Receivables Financing loan becomes overdue.

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Supply Chain Financing is a solution whereby GLDB works with anchor buyers (or anchor sellers) as well as suppliers (or buyers) to provide working capital requirements. In the case with Receivables Financing, GLDB will mainly work with suppliers to finance their sales / export receivables only.