FAQs on Tender Funding, Purchase Order Funding, PO Finance

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

1How do I apply?

You can apply by sending us your purchase order with the specification of RFQ as well as supplier quotes  directly to our email @ info@bizfunding.co.za

2What do I need to apply ?
·         Copy of all directors ID
·         Proof of residential address of all directors
·         Proof of business address
·         3 TO 6 Months bank statements
·         CK Document
·         Tax Clearance Certificate
·         Registered on CSD 
·         BEE Certificate 
3What is a purchase order?

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 

4What is a tender?

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 

5Whats is the difference between funding and a loan?

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

6Can You help fund construction projects?

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.

7How long do does it take to get my tender funded?

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

8How long do does it take to get my purchase order funded?

3 to 5 business days for approval , recurring clients can be funded in 48 hours depending on how organized they are

9Who can apply for funding ?

Anyone who has been issued an official order/tender and is fully compliant with all business taxes and regulations 

10Do you fund start ups?

Yes we do but certain conditions do apply

11Do you only fund government orders/tenders?

No. We can assist in funding non-government orders and all sorts of orders but there are additional conditions that apply.

12How much do you charge for the funding?
It is a fixed profit share deal and we offer a tailored profit share structure for each project 
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

These days bidding for a tender is an extremely competitive process. Many businesses ranging from small, one-man band businesses all the way up to large corporations are invited to offer their services and bid for a contract.

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