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Factoring
Factoring is the purchase of an invoice or receivables at a discount rate. Instead of waiting for longer to get paid, factoring allows a business to turn its existing and ongoing accounts receivable into available cash to be used to fund its operations. By factoring, receivables can be converted into cash before maturity. The seller gets prompt liquidity and the buyer gets credit at an affordable cost.
Basic Information
| Purpose of Loan |
Target Customer |
| Facilitated to importer or exporter who need money before maturity of their documents. |
Manufacturer, Trader, Service provider who runs business on credit with institutional buyer. |
Required Documents
- Valid Trade License
- Latest 12 months bank statement
- National ID of business owners
- Utility bill of business
- TIN certificate
- Photograph of the owners
- Registered partnership deed (for partnership firm)
- Memorandum & Article of Incorporation, Form X and XII (for limited company)
- Certificate of Incorporation (for limited company)
- Board/Partnership resolution (for partnership/limited company)
- All facility related offer letters
- Other documents as per bank requirement & business nature
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