internet bank
GeneralCorporate BankingFunding possibilitiesFactoring

Factoring

The Bank offers (to its Corporate Customers) the opportunity to increase working efficiency and improve sales by using factoring services with recourse, offered by AS "MTB Finance".

 

Factoring is a short-term working capital financing for a money claim to buyer (debtor) cession to the AS "MTB Finance".

 

Factoring with recourse means that the seller is responsible for the solvency of the purchaser and undertakes to purchase the right of monetary claim against the buyer from AS "MTB Finance", in case the buyer fails to perform its obligations for payment within the contractual (account) terms.

 

The use of factoring services allows the seller to provide the buyers with payment deferment and simultaneously and expeditiously replenish working capital, receiving immediate invoice payment, which makes the factoring an optimal business development tool, which allows you to avoid freezing of working capital due to providing customers with longer terms of payment for the goods sold. The buyer settles obligations with AS "MTB Finance" in term specified in the invoice.

 

The maximum factoring contract term - 1 year, amount of financing - up to 90% of the invoice or delivery note amount, maximum term of the invoice payment - 120 days.

 

Factoring servicing in the AS "MTB Finance" promotes:

 

  • increased sales and the acquisition of additional profit due to obtaining of working capital and accelerating of its turnover
  • improvement of the balance structure, as the provision of additional collateral or guarantees do not required
  • expansion of the enterprise share on the market: you can attract new customers via the advantageous offers of payment for products; the availability of working capital is also allows to increase the range of goods in stock and consequently increase the turnover
  • increased liquidity of accounts receivable: money is received immediately after shipment of the goods with deferred payment
  • stabilized cash flow: strict planning of the cash flow and repayment of own debt

 

Required documents:

 

  • company's registration documents (Charter and the registration, tax and VAT payer licenses)
  • accounting reports (annual report for the past year with the opinion of the auditor, balance sheet and profit and loss statement for the current year)
  • certificate of payment of taxes from the State Revenue Service
  • aales and purchase agreements

 

More detailed information can be obtained from the Department of Investment and Credit:

 

 

 

Marina Hofmane 

Ph.: +371 67019181

E-mail: marina.hofmane@mtbank.eu

 


PDFАНКЕТА КЛИЕНТА ЮРИДИЧЕСКОГО ЛИЦА Application for Factoring

 
Information
AS "Meridian Trade Bank" Head office
57 Elizabetes Str., Riga
LV-1772, Latvia
Ph.: +371 67019393
Fax: +371 67019149
E-mail: info@mtbank.eu
Skype: mtb_info
search
Currency exchange rates
January 17, 2017

 Buy*Sell*ECB
USD1.07301.05151.0594
GBP0.90490.86020.8781
RUB66.140060.370063.1692
*Amount of foreign currency for 1 EUR

Meridian Trader_engUnistream_engContact_engBaltikums