1. Receive a Purchase Order:
- You receive a large customer order but lack the funds to fulfill it.
2. Apply for PO Financing:
- You submit an application to RMG, providing documents such as the purchase order and supplier estimates. RMG evaluates the creditworthiness of your customer and supplier.
3. Approval and Supplier Payment:
- If approved, RMG pays the supplier directly, often covering 70% to 100% of the cost of goods or materials required to fulfill the order.
4. Order Fulfillment:
- The supplier manufactures and delivers the goods directly to the customer.
5. Customer Payment:
- After receiving the goods, the customer pays RMG directly.
6. Fee Deduction and Balance Transfer:
- RMG deducts its fees and sends the remaining balance to you.