Goldbell, Oddle join hands to offer cash advances to F&B firms

Singapore

ONLINE food ordering platform Oddle and Goldbell Financial Services (GBFS) have partnered to offer cash advances of up to S$30,000 to help Oddle's food and beverage (F&B) merchant partners get through the Covid-19 crisis.

Officially launched on Tuesday, the GBFS Merchant Cash Advance (MCA) initiative leverages sales data from Oddle's platform to rapidly perform credit assessments and disburse funds to applicants in as little as 48 hours. It promises interest rates starting from 1 per cent per month, and repayments will be deducted from the borrower's Oddle sales.