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BizFunding Offers Purchase Order Financing and Tender Funding in South Africa

February 16, 2021
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BizFunding, a company based in Pretoria, South Africa, has announce that they are offering purchase order financing and tender funding to businesses in South Africa. Purchase order funding is usually required by small and medium-sized businesses when they get big orders. While competing and getting new customers is already quite a challenge for small businesses, they may not have enough funds for the processing of larger order from new customers. Failure to seek the required funding will cause them to have dissatisfied customers, which would be detrimental for the business. More information about the purchase order financing and tender financing services can be gleaned from https://sites.google.com/site/bizfundingfinance.

"If you are a business owner on the road to success BizFunding can help you. If you are a business that needs funding to help start new projects or purchase orders, we can help you. If you want working capital for a contract BizFunding can help you. Many business owners today don’t only need the funding or finance for their business, they also need assistance and expertise which we provide in our partner-based funding module. If you need this help once off or periodically throughout the year, we can provide you with the working capital and expertise to grow your business to another level."

Purchase order funding is provided to the business based on the purchase order, providing the business with the working capital for buying materials necessary for delivering a product or service to customers. This allows the business to comply with customer orders, especially those that are large orders, without the need to look for additional working capital. There are several advantages of purchase order financing. First, it is easier to get a purchase order funding than a conventional bank financing deal. Second, it can be set up easily and quickly. Third, it is available even for start-up and small companies. To know more about BizFunding, such as its exact location and other key information about the company, those interested may want to check out their Google Maps page at https://www.google.com/maps?cid=4461800425293385635.

According to BizFunding, businesses only need to take three steps in obtaining purchase order financing. The first step would be to apply online and send Bizfunding the purchase order with specification of the request for quote (RFQ), including the suppliers’ quotation. The second step would be for BizFunding to verify the purchase order. After they have validated the documents and provided the business with a proposal, they will request certain documents. These include a copy of all directors’ IDs; proof of business address; proof of residential address of all directors; CD document; 3 to 6 months bank statements; registration on CSD; tax clearance certificate; and BEE certificate. In the third and final step, BizFunding will provide funding for the transaction.

Meanwhile, tender financing is provided to businesses that have been invited to bid for a tender but lack the necessary funding. The usual tenders in South Africa are government tenders, which attract a large number of businesses from various industry sectors. These may range from the sourcing of transport and accommodation suppliers to huge construction projects. Those businesses that lack funds and are unable to pay their suppliers are at risk of not being able to get any more tenders.

Tender funding is the solution for such companies to ensure that they will always deliver on time. Most business people and small businesses that have secured a tender are not qualified to receive conventional business funding from banks. Businesses can apply for financing for tenders once a purchase order has been obtained for the tender. The tender financing company will fit the bill for the total cost of the invoice to the supplier to enable the business to deliver on the order.

Those who are interested in knowing more about the purchase order financing and tender financing services provided by BizFunding may want to visit their website at https://www.bizfunding.co.za/, or contact them on the telephone or through email. They are open from Monday to Friday from 8:00 am to 5:00 pm.



SOURCE: Press Advantage [Link]

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About BizFunding:

We are committed to getting small and medium sized business owners the funding solution they need to effectively run and grow their business.

Contact BizFunding:

Cnr Pinaster Avenue and 18th Street, The Club Shopping Centre, Second Floor, Hazelwood, Pretoria, 0081, South Africa
0120010095

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