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Does your company struggle with working capital that is tied up with customers, in paid stock or in pre-sold purchases? Are you also dealing with seasonal turnover? Then you notice that your financing needs fluctuate strongly and that the working capital you need to invest is not available. Factoring may then be the solution.
Factoring is a form of debtor financing. A factoring company takes over your invoices and debtor risk and pays sent invoices directly to you. In this way you will have faster access to capital that is still tied up with your client(s). In most cases, the factoring company pays a maximum of 90% of the invoice within 24 hours.
Factoring is a form of debtor financing. A factoring company takes over your invoices and debtor risk and pays sent invoices directly to you. In this way you will have faster access to capital that is still tied up with your client(s). In most cases, the factoring company pays a maximum of 90% of the invoice within 24 hours.
The factoring company not only pays your invoices directly, but MODINT Credit & Finance also takes over the debtor management and insures the bankruptcy risk.
Step 1: Transfer invoices
When the invoice for delivered goods or services is created, you send it immediately to the factoring company.
Step 2: Payment invoice
Payment is made quickly, in most cases within 24 hours, and a maximum of 90% of the invoice value.
Step 3: Debtor management
We carry out your accounts receivable management on behalf of the factoring company. We also act simultaneously on behalf of the credit insurer, so that your claim is always covered. If necessary, we will contact customers who pay late. We do this in a careful manner, with an eye for your customer relationship.
Step 4: Debtor pays
The debtor pays the invoice amount directly to the factoring company.
Step 5: Payment remaining amount
Once payment has been received from the debtor, the remaining amount minus financing costs is transferred.
Do you want to know if factoring is suitable for your company? Do the free MODINT C&F Factor scan. You will receive tailor-made advice from us and you will immediately know whether factoring is applicable and interesting for your debtor portfolio. The factor scan is without obligation, you are not committed to anything.
We meet by phone, discuss the characteristics of your company, the current financial situation and would like to know why you are considering factoring.
It is helpful to have the following information handy:
If you want to know more about factoring and/or whether it is the right working capital solution for your company, please contact our specialists or request a free quatation.
Interested in factoring? Request a quatation for supply chain finance.
Do you have questions? Let our specialists advise you on a tailor-made basis!
