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    DEALER FINANCE

    You have an excellent track record of several years with the Anchor Corporate. Having realized an increasing demand pattern for the goods, you would like to buy a larger quantity of goods. You will be able to sell the stock to end customers and realize receivables after a certain period. However, the Corporate would like to get its money on Day 1. We help you pay the Anchor Corporate on Day 1 basis your excellent track record and vintage with the Anchor. We have built a seamless process with inter-connected systems across the Anchor Corporate and Lender. You will pay us at the end of the agreed credit period.

    Understanding Mynd Fintech Dealer Finance

    Mynd Fintech’s Dealer Finance solution is designed to help businesses access financing options for inventory and equipment purchases. Our partnerships with dealers and manufacturers ensure you have access to the best financing options available. Whether you’re looking to purchase new equipment or expand your inventory, Mynd Fintech can help you secure the financing you need to grow your business.

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    Features:

    • Unsecured Line of Credit Facility offered to Dealers having good track record with well performing Corporates
    • Loan agreement signed between the Dealer and Financier
    • Enables qualifying Dealers to finance payments to be made to Anchor Corporates against confirmed invoices
    • Technology integration with Corporates’ ERP and use of Mynd Portal for seamless flow of Invoice information across the Corporate, Dealer, Mynd and the Lender

    How it Works

    01

    One Time Credit Limit Set-up

    • Limit amount and period finalized basis risk assessment of Anchor Corporate and Dealers
    • Digital on-boarding of Anchor and Dealers

    02

    Digital flow of Anchor Authenticated Invoices

    • Integration with Anchor’s ERP for online invoice flow
    • System for uploading digitally signed invoices, if ERP integration is unavailable

    03

    Online Disbursement

    • Authenticated POs are funded within 24 hours
    • Disbursement done in Anchor’s designated Bank account
    • Limits revised post each disbursementc

    04

    Online Repayment before due date

    • Dealer’s NACH is presented on the due date
    • Flexibility for Dealer to pay Lender anytime prior to the due date
    • Limits get replenished after every payment

    Benefits of Dealer Finance

    • Access to new and profitable lending opportunities with little or no investment
    • Funding of a confirmed end-purpose
    • Digital and standardized underwriting process
    • Highly automated and hence scalable model
    • Access to immediate working capital required for purchase of goods
    • Significantly lower rates of interest than prevailing market rates
    • Off-balance sheet funding
    • Increase in sales and market share
    • Sharper focus of sales team on sales instead of collections

    FAQs Frequently Asked Questions

    We offer Dealer Finance to all dealers having a proven track with a well performing Anchor corporate and registered as Proprietorship, Partnership, Private Limited, Limited Liability Partnership and Public Limited Companies

    The financing disbursement is done by the Lender to the designated Bank account of the Anchor Corporate within 24 hours, as per the process agreed.

    Repayment is made by the Dealer to the respective Lender anytime before the end of the credit period. The credit period for each invoice ranges between 30 to 120 days, as per terms agreed with the Dealer. The interest is charged only for the actual period for which credit was used.

    Using auto debit facility via NACH.

    There is usually no additional collateral required, as our Lending Partners fund a business on the basis of their relationship with the Anchor corporate and the cash flows due within that cycle. However, in some case lenders may request for collateral based on their assessment of the risks involved