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BLOG – 3 Easy Steps to Access Purchase Order Funding

Three easy steps to access Purchase Order funding

As an agile and dynamic fintech setting the pace for providing essential funding for Small and Medium Enterprises (SMEs) across South Africa, ProfitShare Partners has structured  a Purchase Order funding model for access to finance between R250,000 to R5,000,000.

A common problem SMEs face is applying for funding via traditional routes, then waiting for an approval – and watching opportunities slip away as they wait.

ProfitShare Partners has your back: When you apply for financing with us, you’ll be asked a few questions, and your application will go to our specialists for a quick assessment. It’s all online, and response time is quick.

So, could your business benefit from Purchase Order funding? First off, you must know what it is and how to access it to see its benefits for you.

 

Bridging the payment gap

If you need to bridge the gap between an order and payment, Purchase Order funding as finance has the advantage of being quicker and easier to get, than a traditional bank loan.

Purchase Order funding is another way of saying “working capital finance”. Simply put, the process looks like this:

  1. Your business receives a signed order from a client
  2. The client agrees to pay you 30 days after you have invoiced them
  3. You can only invoice them once you have delivered

So how do you get from signed order to invoicing for payment if you don’t have the cashflow? Do you have to turn down the order, or try to access finance from a bank that may require endless details and prove costly in the long run?

Not anymore.

As a dynamic fintech that focuses on small to medium enterprises (SMEs), ProfitShare Partners provides funding that helps a business with working capital to fulfil your order or contract when traditional finance such as bank loans is hard to access.

The ProfitShare Partners’ business model is designed to assist SMEs and start-ups that often do not have the historical financial background that traditional banking requires.

Our easily accessible funding solution can provide rapid, efficient finance secured by your signed Purchase Order or valid contract.

Three easy steps to accessing finance

Here are the simple steps you’ll take to apply for ProfitShare Partners’ assistance.

 

1 Have your documents in order

Gather all applicable documentation to support and verify your financing request. Most importantly, the documents to support the purpose of your application, these being your signed Purchase Order; supplier quotation; and your company financials, if available.

Save these documents to your laptop or phone to make it easier for you to work through the application process efficiently.

 

2 Apply online

Make sure you have a stable internet connection from your device, and at least 10 minutes of uninterrupted time to complete the application effortlessly.

Now log on to www.profitsharepartners.com , hit “apply now” on the top right corner of your screen, and begin your application. The process is relatively simple, but if you need assistance, mail our professional speedy team at queries@profitsharepartners.com , and they will assist you to proceed.

 

3 Wait for the green light

The magic happens once you’ve completed the application process and hit the “submit” button. Within 48 hours, the ProfitShare Partners team will review your application, conduct the checks and balances, and give you a green light or a red.

Successful, green-light candidates will be required to supply a little more information before the team can allocate you the funds. This process takes a few days. Once all is in order, we fund your Purchase Order or contract.

See? It’s a straightforward three-step process. ProfitShare Partners aims to not only fund your Purchase Order or contract but to support you throughout the transaction.

 

Our passion and ethos lies in driving economic inclusivity and empowering young and small businesses to thrive. When you need financial support from a leading home-grown fintech, contact ProfitShare Partners. All financial assistance should be this easy.

 

BLOG – 3 Easy Steps to Access Purchase Order Funding, ProfitShare Partners

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