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, EnglandRaise cash against your payables, with no supplier involvement
You issue a Working Capital Note to a funding party and receive the cash on day 30. You pay your supplier on standard 60-day terms, and they take no part.
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 1,000,000 face value, with a tenor of 60 days.
BuyerSendsWCN issuedtoFunding party
EUR 1,000,000 less the EUR 10,500 discount cost.
BuyerReceivesEUR 989,500fromFunding party
The supplier is paid in full on the agreed terms.
BuyerPaysEUR 1,000,000toSupplier
For payment at maturity.
BuyerReceivesWCN presentedfromFunding party
The WCN is retired after settlement.
BuyerPaysEUR 1,000,000toFunding party
The WCN creates new financial debt on the buyer’s balance sheet. The supplier is not involved and is paid by the buyer on standard 60-day terms.
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