Purchase Order Funding – how long does it take?

When applying for this type of loan, the truth of the matter is, is that you wouldn’t be applying for purchase order funding if you didn’t need the funds urgently. The funding will allow you to complete the client’s PO request, in turn giving you the cash injection you need. In most cases, the need to apply for PO funding is a timely issue and it’s used to generate more revenue or revenue to stay afloat. So you’ll need a lender that can give you access to these funds – pronto!  

Although we can’t promise a quick turnaround time, we can help you understand all the necessary steps and documents to streamline the process and make it much easier for you to get PO funding in South Africa.  

How long does a purchase order application take?

Time is of the essence, that’s why we treat every purchase order application as urgent.  

The number one rule when answering this question is that for an application to go quickly - you need to have all your documentation ready so as to avoid any roadblocks along the way. Let’s have a look at some of the documents you’ll need for your PO funding application.

PO funding application required documents:

• A legally binding Purchase Order document or Tender Offer  
• Business Proof of Registration 
• 6 months bank statements
• Director’s ID Documents 
• Tax Clearance Certificate 

*These documents are considered the bare minimum requirements and the full list of required documents will vary from lender to lender.  

So now that you’ve got your documents in order, we can help you with what a potential timeline may look like.  

PO funding timeline:

• Application submitted through FundingHub.
• Application processed and transferred to preferred partner on the same business day (if submitted before 12pm).
• Partner contacts you that afternoon or the following workday.
• If all documentation is accurate and ready, the partner application goes under consideration. This consideration usually takes 3-4 days, depending on the partner. Some may be up to a week - depending on the size of the deal and the parties involved. If there is a lot of due diligence and vetting required, expect a period of up to 14 days.
• Application (hopefully) accepted and funds disbursed.  

*Please note, this is only a guideline. The time may vary according to your application and how busy the partner lenders are.  

What is the waiting period to receive PO funding once approved?  

First, the supplier will need to provide the proforma invoices to the lender. After this has been supplied, and once the lender has approved your funding, the supplier will be paid immediately.  

Let us do the legwork for you…

We want your business finance journey to be a stress-free, easy and convenient process. Our platform will match you with reputable PO funding lenders in South Africa, and our aim is to assist you with the right business funding offers to you suit your business needs. Because we are impartial, we can only control the FundingHub side of things. Our promise to you is that we will process your application (if completed in full) and send this application to the relevant partner(s) within one working day.  

If this sounds like the type of funding you need, apply for purchase order funding on our platform – right now ;)  

For any other questions related to PO funding read our full guide, alternatively, you can pop us an email and we will be happy to help you.

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