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PrivateBusiness

Factoring and Invoice financing

Balance your operating cashflow, while waiting payments for issued invoices.

  • Immediate improvement of cashflow.
  • Bank collects and monitors payments from buyers.
  • The financed invoices serve as the collateral.

Choose the appropriate service or Factoring types

Invoice financing Factoring
Financing need For one-off transactions For recurring transactions
Financed amount 5000 – 100,000 € From 35,000 €
Invoice due date Up to 90 days Up to 120 days
Buyer’s country Latvia Worldwide
Price 1% of the financed amount per month (12% per year) Agreement fee, commission fee and interest as agreed
Apply Apply
  1. Make the delivery and issue an invoice to the buyer.
  2. Send the signed invoices to the bank.
  3. Get financing from the bank, in the amount of up to 90% of the invoice total.
  4. The buyer pays 100% of the invoice to the specified Swedbank account.
  5. The bank will pay you the remaining part of the invoice.
  • Instant use of working capital for other purposes.
  • Opportunity to offer better payment terms to your customers.
  • Possibility to use credit insurance to cover buyer insolvency risk.
  • Factoring reports in Internet bank provide an overview of transactions and simplify accounting.
  • Apply for changes in your existing factoring agreement digitally.
  • Goods and services on the invoice have been delivered.
  • Buyer and seller must not be related companies.
  • Claims underlying the invoice may not be pledged or transferred to third parties.
  • Seller and buyer should not have any counterclaims that would enable to clear the invoice.
  • The invoice has a fixed due date.
  • Buyer has had no significant payment delays.
  • Not available for invoices covering construction works.
  1. Fill out the application form and submit one or several invoices.
  2. You will be contacted by the bank within 2 business days.
  3. After the positive decision, sign the agreement digitally.
  4. After invoice with an assignment note has been accepted by the buyer, you will receive up to 90% of the invoice total in your company’s account. If the invoice does not include an assignment note, signing a separate notice of assignment is necessary.
  5. Once the buyer has paid the invoice fully to the specified Swedbank account, you will receive the remaining amount.
  1. Fill out the application form and the bank will contact you within 2 business days.
  2. After the positive decision, sign the factoring agreement digitally or at a branch.
  3. Issue invoices to the buyer with an assignment note.
  4. Send the signed invoices and the summary list (or other documents requested in the agreement) to the bank.
  5. You will receive up to 90% of the invoice amount in your company’s account within 3 business days.
  6. Once the buyer has paid the invoice fully to the specified Swedbank account, you will receive the remaining amount.
 We may request your company’s last annual financial report, if it has not been submitted to the Commercial Register. The balance sheet and income statement submitted may not be older than 12 months. We may also ask to see sales contracts, orders or other documents related to your cooperation with the buyers.

The only cost of financing is 1% a month of the loan amount which is calculated for the time period between transfer of the finance and repayment of the finance.

Invoice amount
EUR
Amount of finance
4500EUR
Payment term
days
Financing fee per invoice
45.00
Calculate
Invoice amount
EUR
Advance rate
%
Interest rate
%
Payment term
days
Commission fee
% per invoice
Calculate
Invoice financing expenses

0%  

0.00EUR

The calculation is approximate and it is not a commitment to provide financing.

Product/Service Price, EUR
Applying
Agreement conclusion / extension Easier via Internet Banking On case-by-case basis, min. 250,00 + VAT
Limit increase On case-by-case basis, min. 150.00 + VAT
Using
Interest rate On case-by-case basis
Invoice processing 0,10 - 0,70% of the amount, min. 0,49 + VAT
Factoring reports 0,00 - 5,00 + VAT On Internet Banking site for previous month - 0,00
For other period - 5,00 + VAT
Agreement amendments (change in buyer limits, payment deadlines etc.) Easier via Internet Banking On case-by-case basis, min. 65,00 + VAT
Checking the buyer’s credit risk insurance limit 45,00 + VAT
Bank certificate preparation 20,00 - 50,00 + VAT
Preparation of non-standard bank certificates upon customer's request min. 70,00 + VAT

Effective from 19.08.2020.

To find out which financing option would work best for your company, sign up for a consultation!

Choose the purpose of financing and find suitable loan.
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