First Circle currently offers Bullet Loans and Amortizing Loans.
A bullet loan is a type of financing with a one time payment scheme. The payment date will depend on the term of the uploaded invoice or purchase order, and payment terms can be between one to six months. Our customers who avail of this usually need short term financing to bridge the gap in their cash flow or additional funding to fulfill a project.
An Amortizing Loan enables you to easily cover your day to day operational expenses. Using your purchase orders, invoices, contracts, or progress billings** as proof of future revenue, you can borrow money for as low as 1.44% and spread the repayment up to 6 months. This is our most flexible product because you are in-charge of designing how often and how long do you intend to repay the loan.
**For general construction companies, we can accept invoices of the progress billing transactions.