Learn everything about this professional service.
When your business is expanding rapidly and you have no other alternative but to offer your clients favourable credit terms, you may find yourself in a position where you have to refuse new orders as you are unable to finance such credit from the business’ own cash reserves. A bank factoring facility may enable you to finance such credit and allow you to accept new orders and expand further your business.
We are engaged by clients to collect and to prepare the necessary paperwork as well as to oversee the entire bank factoring facility application process. Each application is submitted according to the client’s requirements and may also include insurance to cover the risk of defaulting clients.
The banker may in due course ask for additional compliance documentation for due diligence purposes. Like the bank factoring facility application process, such a request can be taxing and time consuming. We therefore provide the service to handle such requests on behalf of the client. More information can be found at the Assistance for Bank Ongoing Compliance page.
Depending on your requirements, it may also be the case that a letter of credit facility is preferred. More information can be found at the Application for Bank Documentary Credit Facility page.
An application for a factoring facility is usually considered by a bank for an existing business that has a substantial annual turnover. For smaller activities, a bank may consider to grant an overdraft facility instead. More information can be found at the Application for Bank Overdraft Facility page.
If you would like to receive more information and detail about our services, fees and applicable reimbursements, kindly get in touch with us through our Contact page or send us an email to firstname.lastname@example.org.