{"id":2819,"date":"2022-07-11T06:58:00","date_gmt":"2022-07-11T06:58:00","guid":{"rendered":"https:\/\/www.factris.com\/?page_id=2819"},"modified":"2024-03-28T10:56:35","modified_gmt":"2024-03-28T10:56:35","slug":"faq","status":"publish","type":"page","link":"https:\/\/www.factris.com\/en\/faq\/","title":{"rendered":"FAQ"},"content":{"rendered":"

[et_pb_section fb_built=”1″ _builder_version=”4.24.0″ _module_preset=”default” background_color=”#D8DAEE” z_index=”9999″ custom_padding=”||||false|false” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″][et_pb_row use_custom_gutter=”on” gutter_width=”2″ make_equal=”on” _builder_version=”4.24.0″ _module_preset=”default” custom_padding=”||||true|false” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.24.0″ _module_preset=”default” header_font=”|700|||||||” header_text_color=”#000A54″ header_2_font=”|700|||||||” header_2_text_color=”#000A54″ header_2_font_size=”36px” header_3_font=”|600|||||||” header_3_text_align=”center” header_3_text_color=”#ffffff” header_3_font_size=”46px” hover_enabled=”0″ header_2_line_height_tablet=”” header_2_line_height_phone=”1.4em” header_2_line_height_last_edited=”on|phone” global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n

How can we help you?<\/h1>\n

For easy navigation of our friendly asked question page, you can use the links below to get to the answer you need quickly.<\/p>\n

[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.16″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″][et_pb_column type=”4_4″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_accordion db_closeable=”on” db_initial_state=”all_closed” open_toggle_text_color=”#000a54″ icon_color=”#727282″ _builder_version=”4.24.0″ _module_preset=”default” toggle_text_color=”#000a54″ toggle_level=”h2″ toggle_font=”|700|||||||” toggle_font_size=”21px” background_color=”#d8daee” custom_css_toggle=”margin-top:10px;||margin-bottom:10px;” global_colors_info=”{}”][et_pb_accordion_item title=”What is Factoring?” open=”on” _builder_version=”4.24.0″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n

Factoring is the financing of invoices you issue to your company customers. When you factor with Factris, you sell an invoice to us, which we finance within 1-2 days. Factris then becomes the invoice owner, taking care of its collection and insurance. Factoring is the cheapest and fastest way for the company to turn invoices into cash!<\/p>\n

[\/et_pb_accordion_item][et_pb_accordion_item title=”How does the financing work?” _builder_version=”4.24.0″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n

We manage the financing process from A to Z and advise at every financing stage. First, we review the financial status of your buyers and measure the risk of the factoring transaction so that your business avoids buyer insolvency. We administer receivables and provide access to the FAB (Finance Automation for Business) platform, where clients can monitor their financial portfolios. We look after debt management so the client can focus on business development instead of reminding debtors to pay their invoices. All of this is free when you use the Factris factoring service. Also, trade credit insurance is included in the service.<\/p>\n

[\/et_pb_accordion_item][et_pb_accordion_item title=”How does the application process work?” _builder_version=”4.24.0″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n

We have worked hard to make our application procedure simple and fast while simultaneously being personal.<\/p>\n

    \n
  1. First, apply by answering basic information about your company\u2019s annual turnover, the amount of funding needed, the average time it takes for your invoices to be paid, and your company details. This is all done online.<\/li>\n
  2. After receiving the data and clarifying your business information and needs, Factris will contact you and present detailed information about your business financing options and service fees within 1 working day.<\/li>\n
  3. If the financing conditions are suitable, a Factris personal manager will submit a formal commercial offer and assist you through the application process, including processing additional information about your business and beneficial owners.<\/li>\n<\/ol>\n

    [\/et_pb_accordion_item][et_pb_accordion_item title=”When am I eligible for factoring with Factris?” _builder_version=”4.24.0″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n

      \n
    1. You are a B2B or a freelancer who works with other B2Bs<\/li>\n
    2. If your company operates for at least 6 months<\/li>\n
    3. If you achieve the minimum turnover of 50,000 EUR on an annual basis<\/li>\n
    4. Your invoices are free of pledge<\/li>\n
    5. Your company operates in one of the countries Factris is located<\/li>\n<\/ol>\n

      [\/et_pb_accordion_item][et_pb_accordion_item title=”Do I have to finance all my invoices?” _builder_version=”4.24.0″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n

      No. Our flexible financing lets you sell all or part of your invoices to us, as agreed with your account manager.<\/p>\n

      [\/et_pb_accordion_item][et_pb_accordion_item title=”How is factoring different from borrowing money?” _builder_version=”4.24.0″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n

      Factoring directly deals with the common source of a lack of working capital: unpaid invoices. It gets your invoices paid fast and easily, allowing you to receive cash flow to continue growing your business. Factoring’s flexibility allows for the right amount of working capital exactly when needed, supporting almost unlimited growth. It’s beneficial for short-term liquidity, enabling you to quickly acquire the amount you need right now.<\/p>\n

      A loan, however, often requires you to take out a maximum amount and pay interest, even if you don’t need the total amount at the time. You also have an obligation to the lender, unlike factoring, which is off the balance sheet and the factoring company’s responsibility.<\/p>\n

      [\/et_pb_accordion_item][et_pb_accordion_item title=”Do I have to sign an agreement for factoring services?” _builder_version=”4.24.0″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n

      In order to be able to offer the lowest possible rates for debtor and credit management services, we require an agreement. You discuss the conditions thereof with your personal account manager, who will adapt them to your specific needs.<\/p>\n

      [\/et_pb_accordion_item][et_pb_accordion_item title=”How long will it take to assess my application?” _builder_version=”4.24.0″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n

      After we have received your completed application form and processed your documents, your application will usually be assessed within just one working day.<\/p>\n

      [\/et_pb_accordion_item][et_pb_accordion_item title=”What kind of invoices can I submit?” _builder_version=”4.24.0″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n

      You can submit invoices for goods and services that have had a confirmed delivery.
      Have your invoices purchased for each completed business service, including completed shifts that have been shown to be completed via an underlying item (for example, a timesheet for a temporary employee or a CMR receipt for a delivered transport).<\/p>\n

      [\/et_pb_accordion_item][et_pb_accordion_item title=”How long does it take before I receive a payout on my bank account?” _builder_version=”4.24.0″ _module_preset=”default” global_colors_info=”{}” open=”off”]The payout is the same day if an invoice is submitted before 1 PM.[\/et_pb_accordion_item][et_pb_accordion_item title=”What does Factris financing cost?” _builder_version=”4.24.0″ _module_preset=”default” global_colors_info=”{}” open=”off”]<\/p>\n

      Factoring fees are determined based on the following factors:<\/p>\n