The factoring is a financial tool that generates immediate liquidity for small businessmen with little or no access to credit offered by traditional banks and that each year is becoming more important in the country.
Marco Yagui, general manager of Contempora Peru, mentions that from January to June 2022, there were some 12,080 companies that negotiated factoring operations in Peru, of which 83% were micro and small companies: “the volume negotiated was S/ 13,000 million, of which 31% were invoices from the commerce sector, 30% from services, 26% from manufacturing and 13% from other sectors”.
“The average receipt of invoices is approximately S/ 18,000. The growth in the volume of factoring placements in the first half of 2022 compared to the same period in 2021 is 41%”, pointed.
Although factoring in Peru is still in an initial stage of development, small and micro-enterprises have recognized its advantages for obtaining liquidity in their businesses, so they contact a financing entity that offers factoring.
In this line, the executive explains some aspects that entrepreneurs must know to take advantage of the benefits of this product:
- Provides immediate liquidity. Factoring allows advance payment of an invoice issued on credit, the same day it is negotiated and not waiting 30, 60 or more days for collection.
- Transfer collection management. The factoring company is responsible for the collection of the invoice when it is due, offloading the company’s operational collection management.
- Does not affect credit record. Advance payment of bills does not affect the credit record since it is not financing.
- The issuing company is not evaluated. Factoring companies evaluate the payer of the invoice and not the issuer, for this reason any issuing company regardless of its size or situation can negotiate their invoices.
- The simple and agile process. Unlike any traditional financing, the disbursement of a factoring is simple and the capital is obtained the same day in a few hours.
- It is 100% digital. The disbursement of a factoring is 100% digital, eliminating any physical barrier, expanding the offer to any point in Peru.