360Buy to Provide Supply Chain Financing Services
Sohu IT, 11/20/12
At a November 19 supplier meeting, Beijing-based B2C e-commerce platform 360Buy announced that it will launch supply chain financing services. According to materials provided by an attendee of the meeting, 360Buy will position its supply chain financing platform as "offering an integrated platform for general financing services incorporating 360Buy's supplier evaluation, billing, and receipt processing systems, as well as online banking and other e-commerce channels connecting companies and banks." The service will not impose regional or size limits on suppliers, according to the materials, and seeks only to broaden supplier investment and financing channels to meet 360Buy's partners' needs for capital.
360Buy will offer financing services for a range of supplier demands, including accounts-receivable financing, purchase order financing, entrusted loan financing for vendors, and accounts receivable portfolio planning. For instance, a 360Buy supplier could apply to the company for a loan in the amount of their accounts receivable after the supplier's goods arrive in 360Buy's warehouse. Merchants using 360Buy's POP open platform will be able to apply for loans after receiving a customer order using a portion of the order cost. The loans will be available for a period of up to three years. 360Buy has not yet announced interest rates for the loans.
360Buy also announced a new "coordinated investment trust" plan. Suppliers who participate in the investment plan will receive returns of 6% to 8%.
The participant in the meeting said that 360Buy announced plans to establish a dedicated fund company to oversee financial investments and financing services. The company will apply a portion of funds newly raised towards financing supplier loans.
Keywords: e-commerce financing Internet B2C 360buy
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