Ping An Digital Bank has launched two trade financing products for SMEs, offering revolving credit facilities of up to HK$50 million to support importers and exporters.

The new Receivables Finance and Invoice Financing solutions use alternative data for credit assessments.

Businesses can also access financing through a single digital platform, with funds available in as little as one business day.

Receivables Finance allows exporters to access funds against outstanding sales receivables by submitting commercial invoices and bills of lading.

Invoice Financing, meanwhile, helps importers manage procurement costs by disbursing approved financing amounts directly to suppliers. The facility offers repayment terms ranging from three to six months.

Terry Tam, Head of Business Banking at Ping An Digital Bank, said,

“The launch of these trade finance solutions marks a significant milestone in building a fully integrated trade finance ecosystem.”

The two products complement the bank’s existing Purchase Order Financing for cross-border e-commerce procurement and Cross-border e-Commerce Revolving Loan for cash flow management.

Ping An Digital Bank also uses operational and trade data to assess borrowers, reducing its reliance on traditional financial statements and bank records.

Its Trade-Connect Loan, available to eligible SME customers of Tradelink, uses customs declarations and trade data for credit assessments.

The unsecured loan does not require customers to submit documents for credit assessment, simplifying the application process for trading businesses.

Featured image credit: Edited by Fintech News Hong Kong, based on image by lifeforstock via Magnific