Loan and Credit factoring
Loan and Credit is a factoring company with an established position in the sector regarding current financing. Established in Bydgoszcz, however, its area of activity covers the entire country. The factoring services provided include both the online environment and advanced new technologies, including the innovative Loan and Credit Platform.
This platform is a fully functional system that handles receivables, and thus gives the opportunity to sell invoices before their due date. The panel, which is simple and intuitive, allows customers to manage their receivables 24/7. The company’s goal is to support financial liquidity of micro, small and medium-sized enterprises. Provision of current financing is to allow efficient functioning of enterprises, which is particularly important when using a long-term trade credit.
How does Loan and Credit factoring work?
Silent factoring is not practiced by Loan and Credit. This means that the contractor receives information that the factoring company has signed the assignment and the creditor has changed – this is the so-called open factoring. What is the transaction step by step like? Contrary to appearances, it is very transparent.
The first stage is the issuing by the Customer of Loan and Credit of an invoice with a deferred payment date for his Contractor. In the next stage, the receivables are sold to Loan and Credit, and the invoice payer is informed about the assignment and change of creditor. The invoice for the Loan and Credit Customer is paid here. The last stage is the repayment of the invoice by the payer directly to Loan and Credit.
Limits on the maximum and minimum value of financed invoices
In order to sell an invoice, you must have an active account on the Loan and Credit Platform, i.e. online factoring. To do this, complete the registration form and company verification must be considered positive. The customer obtains access to the account within 3 business days. It is worth noting that both registration and account maintenance are a free service.
The platform offers the option of selling an invoice with a minimum value of 700 zlotys gross or 200 euros.
The payment deadline, however, at the time of the transaction is already in 7 days. The total value of invoices that can be sold once is determined by the limit available on the Platform, the amount of which may change depending on the course of cooperation or individually conducted negotiations. Initially, the limit granted is at the level of up to PLN 50,000. The limit is renewed after the debtor has repaid the obligation.
The price list is available only after registering on the Platform
But Loan and Credit ensures that they finance individual invoices up to 97% of their gross value.
Cash for invoices is paid out immediately after accepting the transaction.
To sum up, Loan and Credit is a factoring company that enables factoring via the Internet and is primarily factoring for small businesses . It helps to reduce the time of receivables turnover, and also causes that frozen cash in the form of non-payable invoices becomes available to the enterprise. A modern and free platform has been made available to clients, which can be operated from any computer or mobile device.