Factoring Services

Get IMMEDIATE payment for your invoices to be collected! With FACTORING service you are rewarded QUICKLY for your efforts!

Advantages

  • 100% online lending
  • Minimum documents
  • Fast financing in just few hours
  • You receive up to 100% of the invoices issued value
  • You immediately cover your needs for liquidity
  • You can pay your suppliers right away or in advance and get a discount
  • You cand pay in time your state taxes
  • You have money to pay salaries
  • You don’t need other material guarantees
  • Doesn’t affect the indebtedness of the company
  • Predictable cash flow and improving liquidity financial indicators
  • Counseling and support from a team of professionals

Factoring Calculator

How much do I receive for each invoice?
Upload your invoices and find out how much you will receive in your account.
Your invoice is worth lei
The invoice is due within days
The offer is informative and it is not a firm offer. In order to obtain a firm offer, you need to create an user account and fill in the factoring application.
You receive
Lei

To whom is this service addressed to

Omnicredit was created to support Microenterprises and Small Enterprises, that are using our alternative financing solutions due to lack of liquidity.

Factoring financing is a simple solution for a cash flow improvement, through which a company can quickly turn its issued invoices with term collection into immediate liquidity.

Frequently, in many industries, the factoring service allows companies to quickly cash in on provided services, rather than waiting for 30, 60, or even 90 days.

Many companies rely on alternative factoring financing services to access the working capital needed for their business development.

The most common industries that are using factoring services are:

  • Transport;
  • Constructions;
  • Companies that work with state institutions;
  • Small producers;
  • Retailers.

FAQ

What is factoring?

Factoring is suitable for companies working B2B and that issue invoices for the provided services / delivered goods.

It is a financing alternative that allows companies to collect faster money for their provided services, without waiting until the due date.

This financing method refers to the assignment of invoices that are still in term and have a maturity up to 120 days from issuance.

How does it work?

The process goes like this: the Factor (a bank or an IFN) will “buy” your invoice, you, as a company / PFA / II (you will be called adherent in this transaction) will collect the price (its value) before the due date, and your client (who will be called the assigned debtor in this transaction) will be notified that at the due date will have to pay the invoice in the factor’s account.

The Factor will do this transaction for a commission (usually a certain percentage of the invoice value that he settles in advance).

You can get a quick financing by following 3 simple steps:

  • Create an user account on www.omnicredit.ro, by filling in personal data and then validate your contact details
  • Add your company data
  • Place a factoring request and follow the steps to add the requested documents

In case of approval resolution obtained after the internal analysis, the factoring contract will be signed and the assignment notification will be sent to the assigned debtor.

After the approval and signing of the contracts, the money will be transferred to adherent’s bank account.

At maturity, the assigned debtor will proceed the payment in Omnicredit account based on the assignment notification sent to them.

When can I use factoring? Is it suitable for me?

Most often companies choose factoring services when they have a major time difference between the suppliers payment and the collection of invoices issued to customers.

It is the process by which you transfer your receivables and you can collect right away the money for your bills.

What do I need the factoring service for?

With Omnicredit services you can quickly get cash for:

  • Salaries;
  • Taxes;
  • Supplier payments.

Can I use factoring with overdue invoices?

No! This service refers to the invoices assignment that are still in term and have a maturity up to 120 days from issuance.

If I use factoring services, will my company's credit score be affected?

No! This financing service is not a debt and will not affect your credit score.

How does factoring differ from a bank loan?

The approval process for this service is quite simple and flexible, compared to the lengthy approval processes often associated with bank loans. Also, unlike a bank loan, factoring does not create an additional debt for the company.

Will my clients believe that my business is in difficulty if they receive the factoring notification?

It is very possible that your clients already benefit from this service. This financing alternative is increasingly accepted and known in the business world. The fact that they offer you payment terms of 60-90 days for your bills and not immediate payment, it might suggest you the same questions about them.

Can I apply for factoring services if I am a start-up, sole proprietorship, PFA or freelancer?

Absolutely! Because this method focuses more on analyzing your clients and it is a great way for a start-up business to increase its working capital. As long as you have an issued invoice for the goods or services provided for another company, you can finance your business through factoring.

Can I use this service for state entity invoices?

Of course, there are companies willing to finance this type of invoices as well.

What does recourse factoring mean?

In this type of factoring, the adherent remains in payment solidarity with the invoices payment. If the debtor is unable to pay the invoiced amount, the factor has the right to regress on the adherent. The factor can exercise his right of recourse the day after the expiration of the grace period offered to the debtor. The right of recourse does not eliminate the right of the factor to continue to collect from the debtor, the claim still being in factor patrimony.

What does non-recourse factoring mean?

In this type of factoring, the risk of the debtor’s non-payment is transferred to the factor, in case of non-payment it no longer has the right of recourse on the adherent.

Can the client forbid me to assign receivables?

The assignment of the debt cannot be prohibited according to Civil Code, and if you have this clause in the contract, it is null:

– Article 1.570. Inalienability clause

– Article 1.573. Form of assignment

– Article 1.578. Communication and acceptance of the assignment

Is the assigned debtor consent required to benefit from factoring services?

According to Art. 1,578 of the Civil Code – its consent is NOT required and the proof of notification is sufficient.

What are the costs of this service?

The average cost is about 3% per month of the invoice/instrument value, but it depends on the financing period, the requested amount and the analysis result.

What are the advantages?

This financing service has the following advantages:

  • compliance with the deadline for your invoices meaning immediate liquidity;
  • you can offer commercial advantage to your customers – longer payment terms;
  • if you pay your suppliers faster, you can get various discounts;
  • predictable cash flow for expenses and business development without debt.