OPENTENDERS facilitates specialized short-term purchase order finance. This facility is intended for borrowers with public and private sector contracts and valid purchase orders.
The facility provides funding that must be utilized to cover the cost associated with fulfilling the purchase order. A borrower must be in possession of a contract in order to access this funding. The facility is available to registered members only.
How does your funding facilitation service work?
We have various funding partners. Once you submit the pre-liminary application form, we we automatically submit to various funders and interested funders respond to you direct.
How long does it take to get funding?
It depends on many factors. In most cases once all the necessary paper work and verification has been done. Funds can be released within a few days.
Am I guaranteed funding?
No, you are not guaranteed funding however if your project satisfy all funders funding criteria, you stand a better chance of getting funded.
Do I pay interest on the loan?
Yes, you do pay interest on the loan based on the time needed to repay the loan. Each of our funders have charges different interest rates.
Is OPENTENDERS a Bank?
No, we are just an agency that syndicates the funds for the purpose of getting funding for our clients. All our funding partners are FSP and NCR compliant.
What does OPENTENDERS funding partners work?
Our funding partners fund purchase orders/rfq and/or contracts which are provided by large companies. Government departments and State Owned Entities.
Are funds loaned direct to my company?
Yes, funds are directly loaned to your company.
Does OPENTENDERS or its partners take shares in my company?
No, we are only involved in facilitating funding for a specific Project, RFQ or Tender, we do not get involved in the daily running of your company or any other matters between you and the Funder.
Will OPENTENDERS help me with procurement / help me with purchase order fulfillment?
No, that is your responsibility. We do however encourage you to find suppliers and products you need to fulfill your order using our platform.