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

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

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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. Subject to the Bank’s approval, facility can be structured based on Cost of Fund (COF) or Risk Free Rates (RFR) such as SORA for SGD and SOFR for USD.

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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. It will either be 1/16% on the drawdown amount or SGD 50 (or equivalent), whichever higher.

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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 of SGD 50 (or equivalent) applies to every loan prepayment. A notice period of 5 calendar days applies for each prepayment performed.

For applications,

The below documents are mandatory:

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Audited Financial Statement (latest 3 years)

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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)

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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 for up to 100% invoices value. In the case with Receivables Financing, GLDB will mainly work with suppliers to finance their sales / export receivables only.