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FAQs – Page 2 – The Business Place
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What is a Cession of payment?

by The Business Place
September 7, 2017

Financially strapped contractors often have to resort to funding contracts and the purchase of necessary materials by raising money or buying materials on the security of a cession of the right to receive payments from the Employer.   A cession is a transfer of rights from one person/entity to another.  The person/entity transferring the rights is known as the cedent (normally the lender) and the recipient (normally the borrower) as the cessionary.  Many forms of transfers of rights may exist.   The following is...

What is Purchase Order funding and who can apply for it?

by The Business Place
September 7, 2017

Purchase order financing is a short-term commercial finance option that provides capital to pay suppliers upfront for verified purchase orders. Businesses avoid depleting cash reserves or declining an order because of cash flow challenges.   Entrepreneurs who have been awarded tenders/contracts, who have in their possession a valid award letter or Purchase Order (with a Purchase Order number that can be verified) may apply for Purchase Order funding.   Please note: The Business Place Network makes use of an external ecosystem of financiers, and...

What is the difference between Loans, Soft Loans, Grants and Purchase Order Funding?

by The Business Place
September 7, 2017

Loans A sum of money that is borrowed, that is expected to be paid back with interest.   Soft Loans A Soft Loan is basically a loan on comparatively lenient terms and conditions as compared to other loans available in the market. The repayment of a soft loan might also include interest holidays. This process of extending soft loans is also known as soft financing or concessional funding.   Grant Funding Grants are non-repayable funds or products disbursed or gifted by one...

Can you please provide me with a list of all your funding partners?

by The Business Place
September 7, 2017

TBP National Funding Facilitators have relationships with a host of financiers, with varying degrees of risk appetites. Including but not limited to the following: All commercial banks; Equity financiers; Private/Angel Investors; and Developing Funding Institutes (DFIs): The Department of Trade and Industry (The DTI); Industrial Development Corporation (IDC); Etc ...

What is the turnaround time for funding applications?

by The Business Place
September 7, 2017

Turnaround times only become active once all financial compliance documentation, as per the selected financier, had been received. Purchase Order Finance: 15 working days from date of submission to financier. Cross-border Transactions: 21 working days from date of submission to financier. Other Finance Transactions: up to 21 working days from date of submission to financier. ...

Do clients pay to submit a funding application?

by The Business Place
September 7, 2017

No payment is solicited for the submission of a funding application. TBP-NMB assists clients primarily in achieving financial documentation compliance. However, the following types of transactions would require the solicitation of fee due to  advisory services conducted:   Cross-border transactions; Deal structuring; Extensive due diligence requirements by financier. ...