Grow your business with Absa loan solutions

Get short-term finance solution to make upfront payments to suppliers

• Purchase order finance will enable your business to fulfil the order without the stress of acquiring additional working capital for the business
• Purchase order finance is normally given over and above your regular banking finance, credit, loans or overdrafts, which increases your business’ financial flexibility to be able to purchase stock to fulfil your orders
• We have a dedicated PO finance team that handles all application requests related to this product
• The maximum that can be financed is 80% of the amount of the purchase order
• The pricing for this product is prime linked and currently it is the Absa Prime Lending Rate plus 7%
• Both existing and new customers can apply for this product. However, non-Absa customers are expected to open a business current account as part of the loan application requirement
• No security is required. However, the procuring entity that you are supplying would need to sign a deed of cession for the payments to be directed to an Absa dedicated account
• Feedback  on assessed application will be given within 48 hours

Requirements

• Complete purchase order application form
• Purchase order
• Quotation or pro-forma invoice from supplier
• Six months' bank statements and one year financials projections
• Company profile
• Management profile