Service
Export factoring
Also known as export factoring or cross-border factoring. It involves a financial arrangement between the exporter (the business selling goods or services) and FactorTek. Factortek enables Colombian exporters to sell their account receivables in United States and receive immediate funding. Exporters improve cash flow and reduce credit risk.
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How does it work?
Sign Factoring Agreement:
You (exporter), sign a contract to sell your export receivables to FactorTek
Issue an Invoice
You sell a product or service to your buyer, and you issue an invoice to your customer.
Sell Your Invoice to FactorTek
Instead of waiting up to 6 months, you sell the invoice to FactorTek to get immediate cash flow.
Receive Funding
FactorTek pays you up to 80% of the invoice and holds the remaining 20% until we receive payment from your buyer.
Benefits
Improved Cash Flow:
Exporters receive immediate payment for their invoices, helping them manage their working capital effectively and fund their operations.
Risk Mitigation:
FactorTek assumes the credit risk associated with the importer, reducing the exporter’s exposure to non-payment or late payment.
Collections Outsourcing:
FactorTek handles the collection process, including credit checks and debt collection efforts, allowing the exporter to focus on core business activities.