Octet Trade Finance Review: Compare features and fees | Finder

Octet Trade Finance

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Access a convenient, revolving line of credit from $200,000 up to $7 million to pay your suppliers in over 65 countries.

Octet is a supply chain financing provider offering lines of credit for businesses that pay suppliers for goods or services provided without having to wait for your clients to pay you first. In addition to this Octet’s state-of-the-art Supply Chain Management platform makes tracking, validating and authorising every step of your supply chain transaction process, quick and easy.

Trade finance can help businesses to maintain a positive cash flow, accelerate growth, and strengthen their relationships with local and international suppliers.

3 things you should know about this loan:

  • Pay suppliers in over 65 countries in up to 15 global currencies
  • Access finance of up to $7 million
  • Eligible businesses must have a positive balance sheet net worth

Find out more below.

Transaction fee 2.5%

Upfront Fee

$8,000,000

Max. Loan Amount

1 month to 2 years

Loan Term

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Details

Product NameOctet Trade Finance
Min. Loan Amount$200,000
Max. Loan Amount$8,000,000
Loan SecuritySecured
Upfront FeeTransaction fee 2.5%
Loan Term1 month to 2 years

How does Octet Trade Finance work?

Octet trade finance allows businesses to pay suppliers without having to wait for clients to pay them first and without having to use their own working capital to do so. This allows businesses to manage their supply chain effectively, access competitive FX rates and take advantage of potential client discounts. All while maintaining a positive cash flow.

You must have an annual turnover of at least $3 million and net assets of at least $250,000 in order to qualify for a trade finance line of credit with Octet. If you're approved, you will be allocated a facility from $200,000 to $8,000,000. Once you're approved, invite your suppliers to join Octet's secure cross-border payment platform, then start managing orders and authorising payments that Octet will process and settle on the behalf of your company.

Octet trade finance is available to businesses in the following industries:

  • Wholesale
  • Manufacturing
  • IT hardware and equipment
  • Construction and engineering
  • Retail
  • Materials
  • Pharmaceutical
  • Transport
  • Labour hire
  • Food and beverage
  • Healthcare
  • and many more

Features of Octet Trade Finance

Octet Trade Finance offers the following features:

  • Loan amount. Get access to a trade finance facility from $200,000 to $8,000,000
  • Interest-free period. Octet gives you a period of up to 60 days to repay without charging interest.
  • Receive 100%. Funding on supplier invoices due, including any deposit requirements
  • Loan term. Repayment terms for funded transactions of up to 24 months.
  • Unsecured. Get funding with no need for real estate or personal asset security.
  • Quick application. Online applications take only a minute to complete.
  • Quick approval. Octet will try to make a decision on your application within 48 hours.
  • Access supplier discounts. If your suppliers offer discounts for early payment, you can take advantage of his with Octet Trade Finance's funding.
  • Local and international payments. Pay your suppliers in over 65 countries.
  • Preferred supplier payment. Octet pays your suppliers however they prefer to be paid.
  • Digital wallet. Octet allows you to upload to a digital wallet with your existing funding sources, including bank accounts, credit and debit cards and Octet finance solutions, for secure one-click payments and purchases.
  • Multiple currencies available. Pay suppliers in up to 15 different currencies.
  • Transparent fees. Octet has transparent fixed-rate fees for all of its customers upon application.

How much does the loan cost?

The following costs apply to this loan:

  • Transaction fee. A fee of 2.5% of the payment amount is applied to all supplier payments. This varies depending on facility size and other external factors.
  • Interest. Interest is charged after your interest-free period. The amount of interest you are charged will depend on the financial circumstances of your business.

How to apply for Octet Trade Finance

To apply, simply click "Go to site" to visit the lender's website directly. There, you can submit a quick one-minute application, which Octet will usually review within 48 hours.

To qualify for Octet Trade Finance, your business must:

  • Have an annual turnover of $3 million or more
  • Be based in Australia
  • Have been profitable for the last 2-3 financial reporting periods
  • Have a positive balance sheet net worth

Before you submit an application, it's a good idea to compare your trade finance business loan options to ensure that you are getting the best deal possible for your circumstances.

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