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    SALES INVOICE FINANCE

    You have supplied goods or services to your customers as per agreed timelines and quality standards. The customers will, however, pay you only after a certain credit period and you cannot wait to get funds to pay for the raw material, services you purchased or for the labour you mobilized. We help you raise locked-in receivables early basis genuine invoices and improve your cash cycle.

    Understanding Mynd Fintech Sales Invoice Finance

    Mynd Fintech’s Sales Invoice Finance solution allows businesses to access immediate funding through financers who provides credit for confirmed invoices. This allows you to improve your cash flow without needing traditional bank loans. Our flexible financing options are tailored to meet the unique needs of your business, so you can focus on growing your business instead of worrying about cash flow.

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    Features:

    • Unsecured Line of Credit offered to Vendors having good track record
    • Enables qualifying Vendors to discount Invoices
    • Technology integration with Vendors’ ERP and use of Mynd Portal for seamless flow of Invoice information across the Vendor, Mynd and the Lender

    How it Works

    01

    One Time Credit Limit Set-up

    • Limit amount and period finalized basis risk assessment of Vendor
    • Digital on-boarding of Vendors

    02

    Digital flow of Invoices

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

    04

    Repayment

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

    03

    Online Disbursement

    • Invoices presented are funded within 24 hours
    • Disbursement done in Vendor’s designated Bank account

    Benefits of Sales Invoice Finance

    • Access to new and profitable lending opportunities with little or no investment
    • Digital and standardized underwriting process
    • Highly automated and hence scalable model
    • Access to early liquidity against goods and services provided to customers

    FAQs Frequently Asked Questions

    Invoice Finance is the practice of using company’s unpaid invoices to raise working capital & fulfil its financial needs. Financial institutions including banks and NBFCs provide discounting services for businesses.

    We offer Invoice Financing to all vendors – MSMEs and Non MSMEs – across multiple sectors. Businesses 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 respective Vendor within 24 hours, as per the process agreed.

    Repayment is made by the Vendor to the respective Lender anytime before the end of the credit period. The credit period for each invoice ranges between 30 to 60 days, as per terms agreed with the Vendor. 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, we fund a business on the basis of the health of the business cash flows and track record of prior loan repayments. However, in some case lenders may request for collateral based on their assessment of the risks involved