How does invoice financing work for Philippine SMEs?
Invoice financing, also called invoice factoring, gives you funds against invoices you've already issued, so you don't have to wait for your customers to pay. Datung offers it to established Philippine suppliers who sell on terms. Subject to credit approval.
Get cash for invoices you've already issued, instead of waiting for your customers to pay.
How it works with Datung
- You deliver goods and issue an invoice to your customer, on terms.
- You apply with Datung and share the invoices during review.
- If approved, you receive funds against those invoices instead of waiting for your customer to pay.
- Repayment is set out in your loan documents, which you see in full before you sign.
What we look at
- The invoices, and the customers who owe them
- How reliably those customers have paid you before
- Your latest bank statements
- What our credit officer sees at the business visit
What you need to apply
To apply for a business loan, you need 1 valid ID and your last 3 months of bank or GCash statements.
Business loan pre-approval is usually within about 1 hour of complete documents, during business hours. This is an aim, not a guarantee.
Questions
Is invoice financing a good idea?
It can suit a business that sells on terms and waits for customers to pay. Compare the total cost with the cash it frees up, and ask for all charges in writing before you sign.
How much does invoice financing cost?
The interest rate and all charges are disclosed in full before you sign. Datung never asks for any fee or payment before your loan is released.
What does Datung need from me?
To apply for a business loan, you need 1 valid ID and your last 3 months of bank or GCash statements. During review, we may ask to see the invoices and who owes them.
Apply onlineDark Knight Lending, Inc. (DBA Datung) is a subsidiary of Datung Pte. Ltd., Singapore. SEC Reg. No. 2024070157507-01, Certificate of Authority No. 3506. Contact: sales@datung.io · Company facts · Business financing by purpose