QUIK vs PAYD: which financing option fits your SME?

If you've landed on Poss Capital's website while researching financing options, you've probably noticed we offer two different products: QUIK and PAYD. They solve different problems, and picking the right one comes down to understanding what's driving your need for cash.

We'll briefly break down how each product works, when to use which, and how to tell them apart.

Understand what's driving your need for cash

Before comparing products, it helps to know three things: whether the gap is tied to a specific unpaid invoice or to general business needs, how quickly you need the funds, and how long you want to take to repay. Being clear on these details will point you toward the right product much faster than comparing features.

QUIK: unsecured financing for general business needs

QUIK is an unsecured short-term business loan, designed for SMEs that need a lump sum of working capital without pledging collateral.

QUIK is a good fit when:

• You need funds for a general purpose, such as payroll, rent, inventory, equipment, or expansion 
• You want a fixed repayment structure you can plan around, spread over a tenure of up to 12 months
• You would rather not tie the loan to any single customer or transaction
• You want the flexibility to repay early without penalty

PAYD: financing tied to your outstanding invoices  

PAYD is built specifically for businesses waiting on customer payments. Instead of borrowing against your business broadly, you're financing against a specific invoice you've already issued.

PAYD is a good fit when:

1. Your cash flow gap is directly tied to slow-paying customers, not a lack of overall demand or revenue
2. You have creditworthy customers on 30, 60 or 90 day payment terms and need the cash sooner
3. You prefer financing that is sized to the invoice value rather than to a broader credit assessment.
4. You want a shorter commitment: PAYD is repaid over 3 months, versus QUIK's longer tenure

QUIK vs PAYD at a glance

Final funding amount, tenure and approval are subject to assessment. All timings are in working days and exclude weekends and public holidays.

Choose the product that matches the gap

Some SMEs use both. For instance, PAYD is commonly used to smooth out cash flow from a specific slow-paying customer, while using QUIK for broader working capital needs like an upcoming inventory order or hiring push. The two aren't mutually exclusive; it comes down to matching the financing structure to what's actually causing the gap.

FAQs about QUIK and PAYD

Can I apply for both QUIK and PAYD at the same time?

Yes. Many SMEs use them for different purposes. PAYD is used against a specific invoice, while QUIK is for broader working capital, so applying for both is common where the need is genuinely separate.

Which product has a faster approval time?

Both carry credit decisioning within 48 hours. Neither product is prioritised over the other.

Who is eligible to apply for QUIK or PAYD?

Both products are available to Singapore-incorporated Pte Ltd, LLP or LLC businesses with at least 6 months of operating bank account history. Sole proprietorships and partnerships are not eligible.

Do I need collateral for either product?

No collateral needed for QUIK. PAYD requires an invoice with a minimum value of $5000.

What happens if my customer pays their invoice late under PAYD?

PAYD repayment terms are fixed at three equal monthly instalments regardless of when your customer settles their invoice. Make sure your repayment plan can be met even if payment is delayed.

Not sure which applies to your situation? Both applications take minutes online, and our team is happy to help you figure out the right fit before you apply.

Ready to find the right financing fit?

Whether you need working capital for your next business move or want to unlock cash tied up in unpaid invoices, Poss Capital has financing options designed for your needs. Explore QUIK and PAYD today and apply online in minutes.