They do not need to submit bank statements or financial reports, as the bank will assess their credit quality based on the transaction data from the invoices on Marriott International’s procurement platform.
Marriott International’s 12,000 small- and medium-sized entrepreneur (SME) suppliers in Singapore, Malaysia and Indonesia will enjoy same-day invoice financing from Oversea-Chinese Banking Corporation (OCBC) under a new strategic partnership between the two groups.
Under the partnership, SMEs suppliers working with Marriott International via its procurement platform will be able to tap same-day financing approval from OCBC of up to 80% of the invoice amount.
