Since factoring is not a loan, we do not require collateral. Factoring is the sale of an existing payment already owed to you by your buyer, hence no new loan is taken out.
You qualify if you are a registered business in Rwanda selling goods and services to creditworthy business clients, and you have a track record of being paid at least five times by these buyers.
Once all required complete documents have been submitted, you will receive a reply within five working days. If successful, we make the disbursement on the same day.
We can disburse up to 70% of the value of the invoice.
We charge two fees for our services:
We only offer what is called recourse factoring, i.e. where in cases the buyer does not pay after 180 days, you will be liable to cover our costs. This is different from non-recourse factoring, which we do not presently offer.
At the moment, we require a written contract to enforce the payment claim. In some cases, a duly stamped purchasing order may be accepted instead, when combined with an accepted invoice.
No, in cases where it is unlikely that the buyer will pay your invoice, we cannot buy it.
The cost of factoring is related to the length of time the payment is pending, so the quicker your buyer pays us, the less you pay. Furthermore, we require that you instruct your buyer to pay us directly, since after buying your invoice, we now legally own the payment. However, there may be cases where this is not possible and we try to find solutions in such cases.
Since factoring is not a loan, we do not require collateral. Factoring is the sale of an existing payment already owed to you by your buyer, hence no new loan is taken out.
Since factoring is not a loan, we do not require collateral. Factoring is the sale of an existing payment already owed to you by your buyer, hence no new loan is taken out.
We can transfer the money to you either via cheque or bank transfer. We do not disburse cash.
Some loan agreements or overdraft contracts restrict your ability to factor invoices to third parties. Check the loan agreement you signed with your bank to see if there are any such restrictions. If there is nothing in your loan agreement restricting factoring, and your satisfy our requirements, we can work with you.
Subscribe to our quarterly newsletter here