Ping An Digital Bank offers collateral free loan to online businesses

The product only needs eligible invoices.

Ping An Digital Bank (International) has launched a purchase order financing product.

Eligible businesses can obtain financing of up to 95% of their accounts receivable based on eligible invoices, and requires no traditional collateral.

The product needs only eligible invoices, and businesses can get up to US$5m, and a repayment period of up to 120 days.

Ping An Digital Bank promises an approval and drawdown process can be completed as fast as T+1 business day.

The product is designed for cross-border e-commerce businesses, Ping An Digital Bank said.

Thomas Tung, chief business officer of Ping An Digital Bank, said that the bank redefined the credit assessment process to effectively resolve financing bottlenecks for businesses.

“The launch of Purchase Order Financing seamlessly integrates credit insurance with risk management, providing cross-border e-commerce merchants with more efficient and flexible liquidity support,” Tung said.