We are pleased to announce our latest endeavour, Smart Factoring, under the YNV Group umbrella. Headquartered in Bulgaria, with ambitious plans for regional expansion, Smart Factoring offers an advanced digital approach to streamline access to capital for businesses by using their accounts receivable as collateral. This in turn helps boost companies’ financial stability and accelerates growth, all via a fully digitized lending experience.
Factoring in Financial Services: Unlocking Cash Flow and Growth
Factoring, often referred to as accounts receivable factoring or invoice factoring, is a financial service allowing businesses to exchange their outstanding invoices with a third-party financial institution, typically a factoring company. In return, businesses receive immediate cash, generally constituting a percentage of the total invoice value.
The Strategic Advantages of Factoring
Enhanced Cash Flow: Factoring facilitates the rapid acquisition of funds, enabling businesses to meet operational expenses, invest in expansion, and seize growth opportunities without the constraint of waiting for customer payments.
Working Capital Accessibility: Factoring serves as an alternative source of working capital, releasing funds tied up in accounts receivable.
Credit Risk Mitigation: Factoring companies evaluate the creditworthiness of customers, thereby reducing the risk associated with non-payment or bad debt.
Streamlined Collections: Factoring companies assume the responsibility of collecting payments from customers, leading to savings in terms of time and resources for businesses.
Flexible Financing: Factoring offers a flexible financing solution that can be customized to meet the unique requirements of businesses, catering both to established companies as well as startups with only a 1-year history.
Making Factoring Smart
YNV Group saw the market opportunity to improve the process of factoring by creating a simplified, accessible, and faster approval process. That’s where Smart Factoring came into existence by creating a modern digital customer portal for managing all processes and providing greater transparency. Smart Factoring offers flexible and tailored financing solutions with additional potential benefits. These include:
- Increased sales
- Improved buyer payment behaviour
- Improved balance sheet ratios and credit turnover
- Separating debt collection from business relations
- Allowing management and operational staff to better focus on their core activities.
All at no additional collateral beyond receivables.
Smart Factoring offers businesses a safe, fast and effective way to manage their cash flow, access working capital, and grow with confidence. Whether a small business looking to cover expenses or a growing company seeking opportunities for expansion, Smart Factoring can be a strategic financial solution to consider.
Why Go Smart with Factoring?
As a private factoring entity, Smart Factoring distinguishes itself from conventional banks by offering a fully digitized customer experience. Our services encompass the entire financial process, from loan application to transaction management, with a contemporary and adaptable financial solution designed to facilitate businesses in accessing working capital from their receivables, without the burdens of additional collateral.
Smart Factoring presents an extensive range of digitized factoring services, encompassing modernized management processes and improved conditions. Our portfolio of customized and flexible factoring solutions includes domestic factoring with or without recourse, export factoring without recourse, and factoring invoice discounting.
The value proposition of Smart Factoring is the immediate availability of working capital, devoid of delay or unnecessary formalities. We save time for our clients, allowing them to concentrate on their core activities, with a streamlined approval process, digital contract execution, and swift receivables transfer.
Commitment to Financial Services
This new venture is not YNV Group’s first foray into financial services, having recently launched fintech company Monifai in Costa Rica and El Salvador. The launch of Smart Factoring, though, reflects our commitment to supporting small and medium-sized businesses (SMBs) in Bulgaria, a country where we have been well-established with our Tek Experts and Everty brands.
Through Smart Factoring, we aim to offer SMBs a rapid working capital solution that negates the need for supplementary collateral. This approach, we believe, empowers local companies to foster innovation, expand their operations, and augment their workforce.
We take pride in our ability to provide expedited approval processes, flexibility, and bespoke factoring solutions, all underpinned by the latest digital technologies and a contemporary client portal. Our transparent and simplified pricing structure, combined with our expert guidance and diligence, instil confidence in our clients, freeing them to focus on business development.
