Construction Material Purchases Revolving Loan
In the construction industry, subcontractors (SCs) often advance material costs with payment terms reaching for more than 3 months. Various project expenditure put the SCs under substantial financial pressure; the late release of work-done payment also causes them to lose budget control.
As such, Asia One Credit has specially designed and launched the Construction Material Purchases Revolving Loan. After SCs has set up credit limits and purchased materials from our fellow subsidiary - Mattex Asia (a platform for building materials procurement) and provided the invoices to us; we will help the SCs settling their Mattex Asia invoices directly once the loan from Asia One is approved. With Construction Material Purchases Revolving Loan, SCs can enjoy more fund and operate its business in a cost-and time-efficient manner.
As such, Asia One Credit has specially designed and launched the Construction Material Purchases Revolving Loan. After SCs has set up credit limits and purchased materials from our fellow subsidiary - Mattex Asia (a platform for building materials procurement) and provided the invoices to us; we will help the SCs settling their Mattex Asia invoices directly once the loan from Asia One is approved. With Construction Material Purchases Revolving Loan, SCs can enjoy more fund and operate its business in a cost-and time-efficient manner.
Loan Process
Successful Case
Asia One Credit had previously provided a HK$400,000 credit limit (Annual Percentage Rate: 9%) to SC B; afterward, SC B provided us with a HK$100,000 material purchase invoice from Mattex Asia for another loan application. After loan approval, we directly settled the HK$100,000 invoice in full with Mattex Asia for SC B on the payment date when the loan interest also started to calculate - the monthly interest expense is HK$750 while the daily interest is only HK$25.