Merchants cash advance -Take a look at merchant credit advance
Take a look at merchant credit advance
Fill out the application form electronically on the ACFA website. Filling in the application form will take up to 5 minutes for companies to receive.
After checking the information, our credit specialists will review the application. If the project is accepted, we will prepare a cooperation offer. You will receive a response within 2 hours to 1 business day regarding the availability and terms of the merchant cash advance.
After signing the contract, you will receive an amount of transfer within one hour. The transfer will take place on a daily or current day depending on the beneficiary’s bank.
Factoring for companies
Many companies, at some stage in their development, find themselves in a situation where their own resources are not sufficient for their day-to-day operations. This is not always due to bad work or internal problems. Often, the problem is due to the financial difficulties of the partners, which causes them to delay payments. Exporters have experienced the situation when the export market is in a recession or even in a real crisis. However, the company has to pay the salaries of employees, taxes to the state and bills to the service providers. What to do? The solution is Good Finance Corporate Loans Factoring.
Factoring is the financing of operating expenses. It is a fast and easy-to-use and flexible Good Finances Corporate Loans service that allows you to receive financing at the expense of the invoice. Factoring is available to any company registered in Latvia or in the USDpean Union with a turnover of at least 50 000 USD per half-year.
The system is quite simple. Once you have invoiced the customer, which will take several months to complete, fill out the application and submit it to us. We will prepare the contract and make the first of the two payments within 24 hours of signing it. Factoring we give 80-90% of the invoiced amount. The exact limit will be determined by the consultant, who will get a closer look at the company’s business and customer credit history. With Factoring, you can insure up to $ 30,000 in bills for up to 120 days. When the customer pays the bill, you will return the loan.
Factoring company financing rate per day – starting from 0.05%. It is determined by the amount of the invoice and the credit history of the company to which it is issued.
Factoring will maintain steady cash flow and allow the company to continue to develop without long-term debt.
Factoring rules for businesses
Factoring amount: 1000 to 30 000 USD *
Factoring Funding Term: 10 to 120 days
Interest rate: from 0.05% per day
Factoring financing amount: up to 90% of the invoice amount
Other Costs: According to the Good Finances price list.
Factoring Documentation: Customer invoice and contract, operational balance and bank statement,
* If your company needs a higher bill financing limit, contact our credit specialist!
Good Finance Factoring Service available at:
- Limited liability companies incorporated in Latvia or the USDpean Union
- For companies with working capital of at least USD 50,000 per semester
- Companies selling goods or services to other companies with deferred payment terms.
|Evaluation of loan and financing applications||Free of charge|
|Early repayment of the loan||Free of charge|
|Invoice processing up to 1000.00 USD||$ 20.00|
|Pledge registration||$ 20.00|
|Pledge processing||According to state fee and notary price lists|
|Modification of the repayment schedule||2% of the remaining loan amount, min fee: 100.00 USD|
|Factoring||2.5% of the loan amount, min fee: 150.00 USD|
Customers who re-use the credit-for-business service have a discount of up to 30% on the financing fee.
Frequently asked questions
Who is eligible for Good Finances Factoring for companies?
Good Finances Factoring is suitable for small and medium-sized businesses of any sector to finance and develop their business. Good Finances provides friendly and affordable factoring for every entrepreneur, so we encourage you to contact our consultants to discuss the best deal for you!
Why use Good Finances?
Good Finances Factoring is a business-friendly and affordable loan of up to USD 30,000 with an interest rate of 0.05% per day and a maturity of up to 120 days and is available to companies of any industry for business development and growth.
Do I have to pay to process the application?
Applications are processed free of charge. You can also get free advice and information on other Good Finances financial services.
How is the Factoring Rate Determined?
We determine the factoring rate for each company individually. Our credit specialists have developed a unique project evaluation methodology based on a scoring system that uses a number of parameters to develop an individual proposal. This way the loan interest rate is set quickly and efficiently. In addition, companies offering credit on time and in good faith have special offers.
My company needs Factoring for companies over 30,000 USD. Is it possible to get a higher amount?
Good Finances limit the risks of lenders, but in some cases, it is possible to raise up to USD 1,000,000. In this case, we encourage you to contact our credit specialist for an individual application.
Can a single company receive multiple factoring invoices at the same time?
Yes, you can apply for and receive financing for multiple invoices simultaneously under a factoring agreement.