PAObank, Mybooster launch cross-border e-commerce revolving loan

It offers funding of up to $5m, with tenor extending up to six months.

PAObank, Hong Kong's first digital bank tailored for small and medium-sized enterprises (SMEs), has partnered with Mybooster (Shenzhen) Technology., Ltd. to introduce the Cross-Border e-Commerce Revolving Loan. 

The loan offers funding of up to $5m, designed to support SMEs in expanding their e-commerce presence.

Through this collaboration, PAObank gains access to real-time data from Amazon via Mybooster, including metrics such as sales volume, inventory levels, and refund rates. This data provides a deeper understanding of SMEs' business operations, enabling PAObank to enhance its credit assessment process using big data analysis.

The streamlined loan approval process allows SMEs to secure funding in as little as one week without requiring financial statements. The loan tenor extends up to six months, and customers can draw funds flexibly within their approved revolving credit limit, offering a more adaptable financing experience.

Thomas Tung, chief business officer at PAObank, noted that the rapid growth of e-commerce has significantly increased funding needs amongst sellers. This partnership aims to address these needs by integrating commercial data with fintech solutions, providing SMEs with the resources to meet funding demands and explore new business opportunities.