Ping An Digital Bank, a Hong Kong-based digital bank focused on small and medium-sized enterprises, launched purchase order financing for cross-border ecommerce businesses in Hong Kong on September 4.

The product offers financing against eligible invoices without traditional collateral to address working capital needs.

Eligible businesses can obtain financing of up to 95% of accounts receivable, capped at US$5 million, for up to 120 days. Approval and drawdown can happen as soon as the next business day, the bank said.

The bank said the product uses eligible invoices and real-time sales data from cross-border buyers rather than financial statements and collateral. It describe the offering as Hong Kong’s first dedicated factoring solution from a digital bank for export-focused cross-border ecommerce merchants.

The launch comes as Hong Kong policymakers promote alternative data to expand SMEs lending, while research has higlighted financing needs among cross-border ecommerce exporters. Traditional banks also offer invoice financing for SMEs.

🔗 Source: Ping An Digital Bank