Many businesses don’t try to secure new purchase orders because they don’t have the money on hand to complete the order.
Purchase order funding allows businesses to secure new orders from clients with worrying about the costs involved with fulfilling the order.
At BizFunding, we offer fast, easily accessible purchase order funding in Gauteng. In this article, we cover:
- what you need to qualify
- can small businesses get purchase order funding in Gauteng?
- how PO funding could help your business
- advantages over traditional bank loans
- the next step: apply online.
What you need to qualify
Businesses of all sizes can get purchase order funding in Gauteng if they meet the necessary criteria:
- Your business must be registered.
- Your business must be tax compliant.
- You must be able to provide a confirmed purchase order from a client.
- Suppliers quotation.
- You must be able to supply FICA documentation.
You can apply for funding with us even if your business is relatively new, providing you have the correct documentation and meet the minimum requirements.
Can small businesses get purchase order funding?
At BizFunding, we specialise in funding South African small and medium enterprises (SMEs).
Start-ups can access funding but, like any other applicant, you must have a qualifying purchase order to secure funding.
How PO funding could help your business
Small businesses often don’t try to get new purchase orders because they’re experiencing cash-flow issues.
For example, a relatively new SME makes branded stationery. To complete a new order, it has to buy blank stationery.
Because it’s new and doesn’t have a good inventory of blanks yet, it has to pay for the stationery upfront. Without a new order, it can’t build its inventory and grow the business.
Short-term funding would allow the SME to complete the purchase order and start generating healthy cash flow.
The funding is repaid from the proceeds of the purchase order after the client has paid its invoice. The business now has the money to run its business, fill its inventory and welcome new purchase orders.
Advantages over traditional bank loans
Our funding works differently to traditional bank loans. We work with our clients to help them grow their business using a profit-sharing model.
The advantages of purchase order funding include:
- same-day approval
- dedicated agent to work with you
- pay us back when you get paid
- no monthly instalments or payments
- no credit checks
- usually funded within 72 hours
- easy and quick to set up
- available to start-ups and small companies.
The next step: apply online
Get purchase order funding in Gauteng in three easy steps with BizFunding. Complete an online application with the details of the funding you need.
Send us the relevant documentation (including FICA documents) so we can validate them and draw up an agreement.
If you’re happy with our proposal, we can go ahead with the funding and pay your suppliers so you can go ahead with the job.
To learn more about purchase order funding in Gauteng, call us on 010 157 2499.
