US Buyer Finance (Payable Finance)
Payable finance for US-based buyers. Helping buyers by paying their supplier invoices, while the buyer pays the Lender later.

Eligibility:
To ensure a high approval rate, the final decision is always at the Lender’s Credit Team’s discretion.

• The business entity operating in the USA/Canada for a minimum of 2 years.
• Minimum annual sales of $500,000 and a positive net worth
• Products should not include perishables, weaponry, jewelry, or any high-risk items. Drip primarily focuses on businesses buying products with more than 6 months of shelf life.
• The Lender does not fund any related party transactions.
  
  

Documentation:

• For credit evaluation, the following information/documents are necessary (Additional details may be required)

Financial Information:

• 2023 Year-End Financials (Balance sheet and Income statement)
• 2022 Year-End Financials (Balance sheet and Income statement)
• Monthly bank statements for the last 12 months

Non-financial Information:

• Authorized signatory details (Name, Email, Designation, and Phone Number)
• Ownership percentage of the signatory
• Certificate of Incorporation

Once the Lender receives the above documents via its online portal, we will conduct an underwriting process and let the channel partner/client know about the credit limit and the other terms of financing.

Credit Limit:

• Once a client meets all the eligibility criteria and upon review of the documentation, the Lender typically offers Payable finance in the range of $50k to $3M.

Commercials:

• The Lender usually charges a monthly interest rate of 1.3% to 1.8% along with a transaction fee and offers credit terms of up to 120 days.

Financing:

• Buyer shares soft copies of the invoice & a supporting document.
• The Lender collects a 20% margin from the buyer and pays 100% to the supplier after the invoice approval.
• The buyer pays back 80%, plus associated fees to the Lender within the approved credit terms.