What Are Working Capital Notes?

Working Capital Notes™ are digitised versions of established trade finance instruments, most commonly Bills of Exchange and Promissory Notes. They are used by businesses to manage payables and receivables more efficiently while preserving existing commercial relationships.

At their core, Working Capital Notes are negotiable instruments. They carry a legally enforceable obligation, can be transferred between parties, and are recognised across jurisdictions. Digitisation does not alter these characteristics. Instead, it modernises how the instruments are issued, executed, and managed.

In practical terms, Working Capital Notes allow suppliers to receive payment earlier through financing, while buyers retain payment terms that align with their operating cycles. The instrument itself becomes the bridge between commercial agreement and liquidity.

Because they are issued digitally, Working Capital Notes can be processed faster, tracked more accurately, and financed more efficiently than paper-based equivalents. This reduces operational friction and shortens the working capital cycle.

At ETR Digital, Working Capital Notes™ are issued and managed through Flownote, enabling businesses to unlock working capital using trusted legal instruments supported by modern digital infrastructure.