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Invoice Discounting / Factoring
At SCLL, we understand and appreciate
the significance of adequate working capital for smooth
running of your business. Our endeavor is to provide
you with innovative services designed to meet your business
needs.
SCLL introduces Invoice Discounting / Factoring for
Small and Medium Businesses. It is a structured working
capital finance solution that provides finance against
collection of receivables allowing you to convert your
accounts receivables to cash, realising the funds generation
potential of your business.
Features & Benefits
Instant Cash:
Invoice Discounting / Factoring enables you to raise
instant cash against your receivables / invoices. SCLL
can pay up to 90% of the value of eligible invoices
within a day of submission of invoice and the delivery
documents, once all approvals and documentations are
in place.
No requirement for Additional Security: No Additional
Collateral / Security are needed to avail finance. You
pay mark up only on the actual funds disbursed to you.
Concentrate on your core business: The more
your sales book grows, the more we'll help you to turn
your invoices into cash. This will enable you to respond
more quickly to market opportunities. Collection of
receivables is also managed by SCLL, at a predefined
service charge, enabling you to concentrate on your
core business activities.
Salient Features
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Particulars
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1.
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Factoring Prepayment Amount
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Up to 90% of the approved
invoice value |
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2.
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Tenor |
Up to 90 working days.
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3.
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Security |
Recent Factored/Invoices
are assigned to SCLL. No other collateral/ security
would be required once a satisfactory track record
is stablished. |
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4.
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Mark up rate |
It is based on KIBOR +agreed margin.
For applicable rates, please contact SCLL Factoring
Relationship Manager |
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5.
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Mark up calculation method |
Mark up is calculated on daily balances
and charged on monthly basis on the actual amount
utilized. |
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6.
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Facility Processing Fee |
1% of the facility amount |
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7
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Service Charges |
Service charge is a pre-agreed
percentage of the invoice value. |
Recourse Invoice Discounting / Factoring:
Invoice Discounting / Factoring is a financial service
to help manufacturers and traders to manage their cash
flow and receivables. It is a process of assigning receivables
to a Factor at a discount. The Supplier (Client) assigns
his accounts receivables in favour of the Factor and
gives notice of assignment to the Debtor.
Steps to avail Invoice Discounting / Factoring from
SCLL
Eligibility
Other criteria
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