Smart PO Loans Cash Advances and Financing
What are Smart PO Loans?
You can watch a quick video giving a brief overview here:
Great! I want PO Loans.
The first step to access the PO Loans and cash advances for your orders is to complete our free and simple online application for financing.
This application will allow us to connect your bank account to our system so that we can disburse the loans to you, and also for you to receive funds from your customers via eCheques (Electronic Funds Transfers). It's cheaper than Credit Cards, and simpler and more secure than Paper Cheques.
Once we review and approve your application, we will assign you a credit line limit of up to $250k, and configure your terminal to accept payments via eCheques.
How do I get a PO Loan?
To request a Loan you need to use the SmartPO tool to send quotes to your customers. These can be complex multi-item orders with custom payment terms, or simple one-line invoices, it's up to you.
If your customer agrees to the SmartPO quote, and enters their payment method via eCheques, we then review the details of the quote and the loan for risk assessment. If all is good, we wire the funds directly to your bank account.
How do I pay back my PO Loan ?
As your customer makes payments on your Smart PO quote directly to your bank account via eCheques, we detect that and make the equivalent repayment from your bank towards the balance of your loan.
We continue doing that until your customer completes repayment of your Smart PO, which means the Loan is fully paid back. That's it!
You can have multiple loans active within your Credit Line limit.
Questions? We got answers. Contact sales@cashflow.io anytime.