Order financing (including financing for tenders) applies where you get an order or a tender which you need to fulfill, but are unable to finance the cost of servicing the tender from your own resources. It is typically for a period of 30 to 90 days. General guidelines for obtaining order finance are:
- Order (or tender) must be from reputable large corporation or organisation based in Zimbabwe.
- It must be confirmed by the relevant authorities within that organisation.
To obtain funding, you will need to have the following documents for preliminary processing:
- Confirmed order.
- Quotation from a reputable supplier specifying delivery time, payment terms and product specification.
- Freight/transport quotation (where relevant).
- Profitability statement for the specific order (showing profitability of the order).
- A letter requesting the facility with a summary history of your trading relationship with the entity which has given you the order.
After processing and identification of a suitable financier for your order, the following will also be required:
- Letter of undertaking from the corporate/organisation to remit funds direct to the financier.
- You may be requested to open a bank account with the financial institution providing the funding.
Providers of Order/Tender Finance
The SMEAZ SACCOS offers order financing for its members (NB: currently inactive).
MicroFinance Institutions offering order finance are listed on our Business Directory. Click here to see the available products.
The following Affiliate Members of the Association also offer order financing facilities:
How to access
To access invoice discounting facilities, you can contact the relevant institutions above directly, if you have your documents and requirements in order. Should you require assistance from us, however, you can contact us via Whatsapp by clicking on the button below:
Note that in order for us to assist you, you will need to be a paid-up member of the Association, and there are fees payable for the service.