ETR Digital
© ETR Digital 2026
167-169 Great Portland Street, London W1W 5PF, EnglandETR Digital
© ETR Digital 2026
167-169 Great Portland Street, London W1W 5PF, EnglandThirty more days of liquidity, with your suppliers paid in full on agreed terms
You issue a Working Capital Note just before the invoice falls due. A funding party pays your supplier in full on day 60, and you settle the note on day 90.
Buyer
YouSupplier
Funding party
Buyer’s cash
Follow an illustrative EUR 1,000,000 invoice from day 0 to day 90. Choose a seat to see each step from that side of the table.
EUR 1,000,000 on 60-day terms.
BuyerReceivesInvoicefromSupplier
EUR 1,010,500, principal plus discount, with a tenor of 35 days.
BuyerSendsWCN issuedtoSupplier
As advised by the buyer.
BuyerNot involved in this step
The supplier is paid in full on the agreed terms.
BuyerNot involved in this step
For payment at maturity.
BuyerReceivesWCN presentedfromFunding party
The WCN is retired after settlement.
BuyerPaysEUR 1,010,500toFunding party
*The effective discount margin is lower than the funding party’s discount margin because the discount is based on a higher notional value, so that the supplier receives EUR 1,000,000.
Illustrative example. The parties must consult their own auditors to confirm the accounting treatment.
Walk through the structure with us, with your own payables, suppliers and payment terms.
A funding party pays your supplier on the agreed date; you settle the note 30 days later.
What the buyer gains
30 more days of liquidity
Balance sheet
Financial debt or trade payable, to confirm with your auditors
Supplier’s terms
Unchanged: paid in full on day 60
Supplier’s part
Indorses the WCN to the funding party, as advised by the buyer
Discount cost
Borne by the buyer
You raise cash against a note issued to a funding party; your supplier takes no part.
What the buyer gains
Cash on day 30, repaid on day 90
Balance sheet
New financial debt
Supplier’s terms
Unchanged: paid in full by the buyer on day 60
Supplier’s part
None
Discount cost
Borne by the buyer
Terms extend from 60 to 90 days, and your supplier can be paid early on request.
What the buyer gains
30 more days from extended terms
Balance sheet
Retained as trade payables, to confirm with your auditors
Supplier’s terms
Extended from 60 to 90 days
Supplier’s part
Holds the WCN, and may discount it before maturity
Discount cost
Borne by the supplier, only if it discounts early