FAQ

Frequently Asked Questions

Please read our FAQ before sending us a message.

How long do I have to pay Novanty back?

Our plans range from 30 days, all the way up to 180 days from the day we pay your Supplier. Apply to find out which plan you qualify for.

What are your rates?

As long as you pay Novanty back in full on time, you pay no interest and no fees. Your supplier pays our fee instead of you.

What if my supplier doesn't agree to the fee?

We are currently getting 9 out of 10 Chinese suppliers to agree to this fee because they see the value. However, if your supplier doesn’t agree to the fee, Novanty maintains a database of approved suppliers that will.

What if I end up needing more time?

If you need more time than expected, we might be able to extend the time for a small fee.

Is there a pre-payment penalty?

There is no pre-payment penalty. We encourage you to pay Novanty back early with an early payment discount. That’s right, you can use Novanty to delay payment, and still pay less per unit than you are now.

What is the minimum dollar amount Novanty will consider?

$1,000 per product. We love the small dollar transactions too.

What kind of product does Novanty allow?

Anything that is legal to buy/ sell in the United states that also has a shelf life of at least 2 years. It can be individual components like nuts and bolts, all the way up to the finished product. It can also be consumables your business buys, such as packaging material all the way down to the plastic forks in your break room.

Does Novanty offer non-Inventory based Business loans?

No. Novanty only works with inventory.

Who coordinates freight/ customs?

You are responsible for coordinating your own freight and paying any applicable duties. However, we can also quote this service so you can focus on sales instead of logistics.

What happens if I don't fulfill my obligation?

Communication is key. We are here to help you work out any kinks that might come up. However, we will pursue any and all legal actions available to us to get you to fulfill your contractual obligations.

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