Post-dated checks
Check rediscounting: turn your customers' post-dated checks into cash
Your customers pay you with post-dated checks. That's normal in Philippine trade, but it means your cash sits in a drawer until the dates come. Check rediscounting from Datung turns those PDCs into working capital now.
- One application for all 6 kinds of financing
- Just 3 things to apply
- Pre-approval usually within about 1 hour
- Final answer usually within 12 hours
Times are during business hours. Applications that come in at night start at 8 AM. Our aim, not a guarantee.
Check rediscounting
What is check rediscounting?
Check rediscounting, also called PDC rediscounting or PDC financing, gives you funds now against post-dated checks your customers have issued to your business. You get the cash to restock and keep supplying, without waiting for each check date.
It suits wholesalers and distributors who carry many customers on PDCs: the money is already promised to you, it just isn't usable yet.
How check rediscounting works, in practice
- Your customers pay you with post-dated checks.
- You apply with Datung and present the checks during review.
- We review the checks and the customers who issued them.
- If approved, you receive funds now. The terms, including what happens as each check clears, are set out in your loan documents before you sign.
Check rediscounting at a glance
- What it does
- Turn your customers' post-dated checks into cash now, instead of waiting for them to clear.
- Best for
- Wholesalers and distributors holding their customers' PDCs.
- To apply
- The same 3 things as every kind of financing: the online form, 1 valid ID and your last 3 months of bank statements.
Who it's for
Who check rediscounting is for
Datung funds the established suppliers and distributors one level up the supply chain: the businesses that keep sari-sari stores, carinderias, talyers and contractors stocked on terms.
- Wholesalers and distributors holding their customers' PDCs
- Suppliers to contractors, dealers and retailers who pay by post-dated check
- Businesses that want to restock before the check dates come
- Built for established businesses (typically ₱6M+ in annual sales), in any industry.
How to apply
How to apply for check rediscounting
One application covers all 6 kinds of financing. You don't need to get the product exactly right: tell us what the money is for, and we'll match you to the best fit.
Step 1: Apply once, online
About 10 minutes
Fill in the form with 1 valid ID and your last 3 months of bank statements. Under “What kind of financing do you need?”, pick check rediscounting, and tell us what the money is for. No account, nothing to print.Step 2: Review and pre-approval
Usually within about 1 hour
A credit officer reviews your application. We aim to give you a pre-approval within about 1 hour, and we may ask to see the checks.Step 3: Business visit
Within about 2 hours of pre-approval
A credit officer comes to see your business for themselves. We'd rather see it than judge it from paper.Step 4: Your final answer
Usually within 12 hours
We aim to give you a final answer within 12 hours. If it's a yes, the interest rate and all charges are disclosed in full before you sign. If it's a no, we tell you right away.
Times are during business hours. Applications that come in at night start at 8 AM. These are our aims, not guarantees.
Ready to apply for check rediscounting?
Apply in about 10 minutes with 1 valid ID and your last 3 months of bank statements.
What we look at
What we look at for check rediscounting
Every application is reviewed by a credit officer, who looks at the whole business, not just a checklist. What we can offer depends on that review, and we never promise approval.
- The checks: who issued them, the banks and the dates
- Your history with the customers who issued them
- Your latest bank statements
- How your business uses PDCs day to day
- What our credit officer sees at the business visit
FAQ
Check rediscounting questions
Straight answers about check rediscounting and applying with Datung.
What is a PDC?
Do the checks have to be from my customers?
What documents do I need?
How fast will I get an answer?
Will I be approved?
What interest rate will I pay?
Ways we can fund you
Other ways to fund your business.
You don't need to pick the right product first. Apply once with the same 3 things, tell us what the money is for, and we'll match you to the best fit.
- Confirmed orders
Purchase order (PO) financing
Funds to buy the goods for a confirmed customer order, so you can say yes to the big one.
Best for: Distributors, dealers and importers with orders bigger than their cash on hand.
Learn more about PO financing - Unpaid invoices
Invoice factoring
Get cash for invoices you've already issued, instead of waiting for your customers to pay.
Best for: Suppliers whose customers pay in 30, 60 or 90 days.
Learn more about invoice factoring - Draw, repay, repeat
Revolving credit lines
An approved limit you can draw from, repay and draw again whenever the business needs it.
Best for: Suppliers who restock every month to keep their customers supplied.
Learn more about revolving credit lines - For a higher line
Collateral-based financing
Pledge an asset you own as collateral, which can support a higher credit line.
Best for: Owners ready for a bigger move who have assets to put up.
Learn more about collateral-based financing - Working capital
Business loans
A lump sum for inventory, equipment, payroll or your peak season, repaid over 3 to 12 months.
Best for: Any established business that needs cash to keep moving.
Learn more about business loans
All 6 start from the same single application.
For some, we may ask to see the checks, purchase order, invoices or collateral papers during review. What we can offer depends on our review of your business.