supply chain financing
Supply Chain Financing
What is Supply Chain Financing?
Supply Chain Financing is a form of financial transaction whereby iLending (a third party) facilitates an exchange by providing finance to the suppliers on the client’s behalf. This solution optimizes cash flow by allowing suppliers to get paid early while providing the flexibility for businesses to extend their payment terms.
How does Supply Chain Financing work?
iLending helps you secure collateral-free loans through a fully digitalised/paperless process. With iLending, you can apply for an amount of up to RM500,000 with interest rate of 0.1% - 1.5% per month with a tenure of up to 6 months.
Upon approval of the supply chain financing amount, we will credit the amount to the contracted supplier after fee deduction.
Repayment will be in monthly installments and is fully automated given that there is sufficient amount in your bank account.
Are there any fees and charges?
- Attestation fees: 5% of the approved amount deducted before disbursement
- Stamping fees: 5% of the approved amount deducted before disbursement
Should there be any late repayments, a 0.67% interest fee will be added into the remaining unpaid balance monthly.
What are the required documents that I would need…
Required documents for Supply Chain Financing:
- All SSM Forms
- Business License - MPK/Industry License
- Bank Statement for 6 months
- Reimbursement documents (BL/DO/Transaction slip)
- Contract (PO/LC)
- Auditor report (For company more than 1 year)
- Management account report (For company less less than 1 year)
How long is the financing term?
You can apply for a tenure for a duration of 2, 4 or 6 months depending on your business needs with iLending’s Supply Chain Financing.