Flexible financing options with BridgePay
By Jordan L|
July 2, 2023
Looking for flexible financing options to accommodate your growing business? Well, look no further. Along with a host of many other fast and flexible business funding solutions suited to South African SMEs, Bridgement offers a trade credit facility called BridgePay. In a nutshell? BridgePay makes it possible for customers to settle their invoices over 3 to 12 months instead of paying upfront, ultimately improving cash flow for both buyers and suppliers.
We may have mentioned that BridgePay is a flexible finance solution, and that’s not least of all because it bends both ways. What we’re saying is that BridgePay is an all-round solution that benefits both buyers and sellers. Whether you’re chasing a customer for unpaid invoices or looking for ways to settle your own invoices without causing major disruptions to your cash flow, BridgePay is the solution for you.
Because here’s the thing: cash flow does not discriminate between buyers and sellers. Sellers are chasing buyers to settle unpaid invoices so that they can settle theirs with their own suppliers. It’s a vicious cycle of life with a common enemy: slow cash flow. Using fast-acting and flexible financing options like BridgePay is a business-savvy way to keep cash flowing, whether you’re buying or selling. We’ll tell you exactly how.
The benefits of trade credit financing options for sellers
The primary benefit of offering flexible, interest-free payment options to your customers is that you’re creating an ideal arrangement for increased sales and larger, more regular orders. When you empower your customers with the freedom to let their cash flow a little more freely, you can rest assured that their cash flow will also circulate more steadily and more regularly into your own water cycle. We got a little carried away with the water metaphor there, but you catch our drift. Healthy cash flow on their side means healthy cash flow on your side.
Considering that Bridgement absorbs 100% of the risk, this arrangement starts to make even more sense for buyers to offer their suppliers. You can rest assured that, in the event of a customer defaulting on their payments, you’re fully protected against the threat of damaged credit or fraud.
All things considered, the best part of a product like BridgePay is that it alleviates the pressure of having to chase after customers for unpaid invoices. Stop the wild goose chase in its tracks and outsource the Great Invoice Hunt to Bridgement. We’ll pay you upfront so that you can return your focus to developing your business the way you wish you could – without interruption.
Moreover, when you stop having to follow up with customers about late or unpaid invoices, your business relationships will prosper. Offering BridgePay a payment option gives customers a little breathing room to settle outstanding balances without draining their own cash flow. The result? Repeat business, thriving accounts, and an edge over the competition.
In summation, the potential benefits of offering BridgePay for buyers include:
- Increased total sales
- Higher conversion rates
- Higher total order value: customers are more likely to place bigger orders when you offer them a way to pay for their purchases over longer periods, totally interest-free
- Get paid upfront and leave the rest of it – from collection to dealing with defaulting customers – to Bridgement
- Attract repeat buyers and protect your business relationships by giving customers more time to settle their invoices
How to apply for BridgePay
Here’s a step-by-step guide to how to begin offering BridgePay as a payment option to your suppliers:
- Apply to Bridgement online to become a BridgePay supplier. BridgePay links will be included in all your invoices, emails, and at your online checkout platform.
- Let customers choose BridgePay as a payment option, then simply wait to review and accept their payment plan online. No paperwork, ever.
- Once you’ve approved the terms of repayment for your customers, we’ll pay you the value of the unpaid invoice(s) immediately.
- A nominal transaction fee is extracted from the value of each paid invoice. The longer you give your customers to settle their original invoice with Bridgement, the higher the transaction fee will be. There are no other application fees or monthly charges associated with your BridgePay accounts.
- Sit back. Read an article in The Economist (or whatever you’re into) . Run your business at leisure without the constraints of unpaid invoices. Leave the collection to us. Depending on the agreement, your customer pays us back over 3- 12 months interest-free.
Once they’ve been approved, your customers can reuse their BridgePay facility many times over – making it easy for repeat customers to continue the wider circulation of cash flow from their business into yours.
Want to use BridgePay to pay your next invoice?
Selecting BridgePay as a payment option when you next need to settle an invoice with one of your suppliers is an accessible way to improve cash flow in your business. Furthermore, when you pay participating suppliers with BridgePay, you can break up the total value of the invoice over up to 12 months and your repayments will be interest-free. Just keep an eye out for the BridgePay icon in emails, invoices, and at checkout. It’s a new, flexible way to pay invoices. Get what you need today without having to pay upfront. Trust us – your cash flow will thank you.
The benefits of flexible financing options like BridgePay for buyers
There are many benefits to using a trade credit option to settle invoices. In addition to buying your business more time to settle outstanding accounts, BridgePay can also help in the following ways:
- Improve your cash flow reserves by buying yourself more time to settle invoices
- Navigate seasonal fluctuations in demand and keep suppliers happy
- Gain the ability to make larger orders with longer repayment periods, thereby growing your business while protecting cash flow
- Enjoy interest-free repayments with participating suppliers
- Get instantaneous access to a fast and flexible alternative credit solution – apply online in two minutes and get approved in hours
Sound good to you? We’ll tell you how to apply for a BridgePay facility.
How it works
- Apply online in two minutes and receive a decision within hours
- Order directly from your supplier as normal, but send us the invoice. If your supplier is a BridgePay participant, simply select BridgePay as a payment option at checkout.
- Once your supplier has approved your repayment terms, we’ll settle with your supplier immediately so that they can process your order.
- You’ll have the option of paying us back over up to 12 months.
You’re not locked into your repayment terms – you can settle early at any time without incurring a penalty. Pay one or multiple invoices up to the value of R5,000,000. To learn more about how BridgePay is a dynamic cash flow solution, visit our website. For business funding solutions that give you fast and flexible access to up to R5 million, check out the Bridgement Business Funding Options (and more).
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