What documents are required with each invoice?
The invoice, the underlying purchase order, proof of delivery or shipment, and written buyer acceptance. Proforma invoices must be converted to final form before submission.
What's the difference between recourse and non-recourse?
Non-recourse: if the buyer fails to pay due to insolvency or protracted default, that loss is absorbed by Mangrove. Recourse: unpaid amounts revert to the vendor. Structure is determined at underwriting based on buyer profile and deal terms.
When will I know if credit insurance is required?
At the approval stage, before any advance is made. If credit enhancement is required, we'll tell you upfront with full transparency before you commit to anything.
How quickly can I receive an advance?
Typically within 1–2 business days of a complete submission. Once a buyer is approved in our system, subsequent invoices to that buyer can move faster.
Is there a minimum volume commitment?
No. Individual invoices must be $10,000 or more. We work across a range of program sizes — from single-buyer programs to larger revolving facilities.
What happens if a buyer pays late?
Interest accrues daily on the outstanding advance balance until payment clears. We manage resolution directly with the buyer. Treatment depends on whether the facility is recourse or non-recourse.