How can we help you?
For easy navigation of our friendly asked question page, you can use the links below to get to the answer you need quickly.
Do I have to finance all my invoices?
What will my customers notice?
How high is the advance that I receive on my invoices?
How does factoring differ from lending money?
Do I have to sign a contract for factoring services?
I’ve been denied by the bank for a loan. Can I still get funding from Factris?
What happens if my customer doesn’t pay?
Who is behind Factris?
How does the application process work?
What is factoring?
How long does it take before I receive a payout on my bank account?
What does Factris cost?
What kind of invoices can I submit?
How much funding will I have access to?
How does Factris differ from other factoring companies?
When do I qualify for a Factris account?
How long does it take to assess my application?
Do I have to finance all my invoices?
You can factor all or a portion of your invoices with us, as agreed with your account manager.
What will my customers notice?
We work with you to determine how we should jointly work with your customers and only contact them with your permission. We are highly experienced in working with both great customers and difficult ones, that pay late and maintain a professional standard in communications. Depending on our agreement, your customers may see our payment information on the invoice.
How high is the advance that I receive on my invoices?
We provide up to 100 percent of the invoice less our service fee.
How does factoring differ from lending money?
Factoring is a flexible financing facility that grows with your business and is most useful for short-term liquidity, whereas a lending facility is usually inflexible and longer in the term. Often you can take a lending facility and pay the interest even if you do not require the whole amount at that time. In accounting terms, a loan means you have an obligation to the lender whereas factoring is off-balance sheet and the responsibility of the factoring company.
Do I have to sign a contract for factoring services?
In order to provide the lowest cost possible for debtor and credit management services, we do require a contract. However, the terms are discussed with your personal account manager who will cater to your specific needs.
I’ve been denied by the bank for a loan. Can I still get funding from Factris?
Yes, you can! We are here to help companies that banks can not.
What happens if my customer doesn’t pay?
If your customer does not pay and there is no dispute, we will first work with you to collect the payment and if we are not successful the payment is insured, the cost of which is included in the fee.
Who is behind Factris?
Factris is backed by Speedinvest, Million Monkeys and Optima Investments with a debt facility of up to 100 million euros from a well-known Swiss fund, Ruvercap.
How does the application process work?
The application process is quite fast and straightforward while remaining personal. First, you give us the necessary information on the annual company revenues, amount of factoring required, an average amount of time your invoices take to be paid and your company details, filled in online. Within 5 minutes we send you a quote with a fee range. If you agree to the range, then we provide you with a personal account manager to work with you to understand your business needs and to explain in more detail about debtor and credit management. Your account manager will assist with the boarding process, including the processing of additional information about your company and beneficial owners.
What is factoring?
Factoring is the advancing of cash based on a business transaction. In our type of factoring, the operation is represented by the issuance and acceptance of an invoice that we buy in part or whole within 24 hours. As the owner of the invoice, we manage the collection and insurance for a factoring fee that is paid up front as a small discount on the face value of the invoice, starting from 0.5 percent.
How long does it take before I receive a payout on my bank account?
The payout is the same day if submitted before 13:00 PM.
What does Factris cost?
Our lowest fee rate is 0.5 percent of the invoice value.
What kind of invoices can I submit?
You can submit invoices for goods and services rendered and acknowledge as having been delivered.
How much funding will I have access to?
We can provide up to 5 million euros in funding, depending on your needs.
How does Factris differ from other factoring companies?
We differentiate ourselves with our personal service combined with low cost. Usually, companies try to automate the people out of the process, while we provide the automated tools to support our personal account managers, so they have time to help you.
When do I qualify for a Factris account?
We are very flexible in our criteria. We service companies at all stages of their growth, companies of various sizes and with differing business models.
How long does it take to assess my application?
The application is processed within one day after receiving the completed application.