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Supply Chain Finance is a term describing a set of technology-based solutions that aim to lower financing costs and improve business efficiency for retailers (buyer) and sellers linked in a sales transaction. Supply Chain Finance methodologies work by automating transactions and tracking invoice approval and settlement processes, from initiation to completion. Under this paradigm, we at Monedo provide short-term credit to the buyer that optimises his working capital and provides him liquidity to avail the cash discount from the supplier.
While suppliers gain quicker access to money they are owed, buyers get more time to pay off their balances. On either side of the equation, the parties can use the cash on hand for other projects to keep their respective operations running smoothly.
KEY TAKEAWAYS
• Supply chain finance is a set of tech-based business and financing processes that lower costs and improve efficiency for the parties involved in a transaction.
• Supply chain finance works best when the buyer has a better credit rating than the seller and can thus access capital at a lower cost.
• Supply chain finance provides short-term credit that optimizes working capital for both the buyers and the sellers.
Features
• Buyer can extend payment terms and even avail cash discount
• Buyer can pay in easy installments or as bullet payment
• Suppliers can maintain working capital
• It’s collateral free, so no pressure on buyer to pledge any personal or commercial property
• Ease on the process and fast approval
Benefits
• Quick Approval
• No Collateral / Security
• 100% Digital Process
• Minimal documentation
Documents required to avail Supply Chain Loan
Processing fees : 0.5% to 3% + Applicable Taxes of the loan amount
Bouncing Charges : Rs.295 per bounce (Including GST)
Penal Charges : 0.099% per day (36% per annum)
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Monedo is the trade name of Monedo Financial Services Private Limited
We all are reading about instant loan apps which are involved in illegal lending and unfair recovery cc practices. Since these apps are not registered with the regulator (RBI) for any sort of lending, we urge our readers not to fall prey to such unauthorized platforms. These apps are unlawful and take wrong steps when comes to collection using the data on the mobile phones of customers.
RBI has warned individuals and small businesses against falling prey to an increasing number of unauthorized digital lending platforms.
In the current scenario, we would like to state the Monedo Financial Services Private Limited, a registered NBFC under RBI has no customer app and all lending and collections are done in legal and ethical ways as prescribed by RBI.
We only lend to customers as per internal policies and thus request customers to be aware of the same and loan amount depends on our proprietary algorithms depending on customers ability to pay. Our internal policies and practices ensure ethical lending and recovery.
Monedo cautions against loans being offered by unauthorized digital platforms, mobile applications promising a quick and hassle-free process. Please do not trust any messages, links, online forms, calls and apps asking for any payments impersonating as Monedo Financial Services Private Limited, to avoid any such mishap beware of hoax/fraudulent activities. These platforms always have hidden charges, adopt unacceptable high-handed recovery methods and misuse agreements to access data on mobile phones of borrowers.
Consumers should never share copies of Know Your Customer (KYC) documents with unidentified persons, unverified/unauthorized apps and should report such incidents at contact@monedo.in and 022-6817 3300 for queries and questions. Transact only through genuine channels or through our company executives and authorised partners.
We abide by the regulations and guidelines by The Reserve Bank of India with no exceptions.
We will continue to strive to keep this service ethical and within regulatory parameters at all times.
We look forward to being your trusted partner in terms of need.
Regards, Team Monedo Financial Services