Biz Funding FAQs
Do you have questions regarding the Tender & Purchase Order process.? Below you’ll find the most frequently asked questions, if you need further assistance, Please give us a call.
Frequently Asked Questions
You can apply by sending us your purchase order with the specification of RFQ as well as supplier quotes directly to our email @ firstname.lastname@example.org
A purchase order is a legally binding document between a supplier and a buyer. It details the items the buyer agrees to purchase at a certain price point. It also outlines the delivery date and terms of payment for the buyer, these orders are signed and stamped by the end user
Buyers are the organizations who publish tenders and are looking for responses from businesses who can do the work. They do this with a Request for Quote (RFQ). Suppliers are the individuals or businesses that are carrying out the work for the buyers. Suppliers can offer goods or services once off or for a certain time frame. Tenders are also usually construction projects
Funding is done as a partnership where 2 parties work together to complete a project. With funding, suppliers get paid directly and the funds are paid back when our client receives payment for the project. A loan is a cash advance to an individual or company that can be used for whatever purpose you intend and is paid back monthly
Only if the project has a relatively quick turnaround time (Can be completed within 60 to 90 days). A number of other factors play an important part as well like the site location, your company profile and references of experience , qualifications and capabilities (If it’s your first construction job, we can’t assist) We need a full detailed project plan and bill of quantities to assist as well as supplier quotes for ALL materials needed for the project.
Between 7 to 10 business days for approval as we would need do site visits , this time can vary depending on how organised you are with suppliers quote's and your project plans
3 to 5 business days for approval , recurring clients can be funded in 48 hours depending on how organized they are
Anyone who has been issued an official order/tender and is fully compliant with all business taxes and regulations
Yes we do but certain conditions do apply
No. We can assist in funding non-government orders and all sorts of orders but there are additional conditions that apply.
Starting and owning your own business is probably one of the toughest and most challenging decisions a person could make. It is anything but easy. One of the biggest challenges is trying to secure funding for supplies when big orders come rolling in.
Purchase Order Funding