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RAKBiz - Equip
E-commerce Financing
Traders in the UAE on the Amazon platform, who operate using the FBA (Fulfilled by Amazon) model, seeking to boost their working capital and expand their business can now avail financing against their E-Commerce receivables through RAKBANK.
Features and benefits
- Revolving limit of up to AED 250,000
- Key limit assessment will be done based on the trends of receipts from e-commerce portal and limit may be accordingly amended during renewals.
- Post approval of limit, customers need to simply place a transaction request through an online portal. After conducting internal checks, amount will be disbursed to customer’s current account if <= AED 100K or if above AED 100K then amount to be disbursed directly to supplier.
- Tracking of receipts from Amazon will be done through an E-Commerce Receivables Account which customer will open with RAKBANK and nominate as funding account on the e-commerce portal.
- Outstanding will be settled from the proceeds accumulated in the Customer’s E-Commerce Receivables Account and shortfall, if any, debited from the customer’s current account.
