This is not a personal loan. This is a business line of credit called Payable Financing. Payable Financing helps improve your cash flow by funding your suppliers directly. This can lead to reduced supplier stress, improved business relationships, and increased potential for growth.
While not required, you have the option to make partial payments before the loan term ends. There are no prepayment charges.
No, there are no payments required during the loan term. You can choose to pay the full amount at the end of the term, which can be up to 120 days.
Payable Finance provides higher credit limits and longer payment terms. It offers more flexible repayment options than a credit card. Credit cards usually have lower limits, higher interest rates, and shorter repayment cycles. Payable Finance is also tailored for business needs, making it better for managing cash flow and supplier payments.
Payable Finance extends payment terms for suppliers without requiring collateral, improving cash flow. ABL allows borrowing against assets like inventory, while Bank Loans require collateral and have stricter repayment terms.