Details.
OCBC provides financing for open account sales transactions by advancing funds to the seller before the buyer's payment due date. Financing is typically between 70% and 90% of the invoice value. The financing tenure matches the invoice maturity, and repayment is made as a lump sum comprising principal, interest and fees. OCBC charges a fee of 0.25% of the invoice value or S$100, whichever is higher. After a successful drawdown, funds are credited within 5 working days. Apply by contacting trade@ocbc.com, then submit invoices and supporting documents online via Velocity@OCBC.