Proinve has strategic international partnerships, representing some of the most renowned institutions on International Factoring when it comes to the following services:
I nvoice Factoring
International Factoring
Reverse Factoring
P.O. Financing
Advantages:
Increased liquidity for companies, achieving immediate financing of accounts receivable.
Increase of operating working capital.
The process is faster and has fewer requirements compared to financial institutions (banks).
Possibility to engage new clients (potential clients can be evaluated by the Bank, it applies after starting the commercial relationship).
Low risk of fraud (your client will be evaluated by the Factoring bank through credit bureaus).
You will receive credit evaluations from your customers.
Collection management will be done by the bank’s staff.
It does not alter the leverage ratio (ratio of debt to EBITDA).
Conditions:
Customers must export to Europe, USA or other international destinations.
Accepted currencies are USD, EUR, and GBP.
The minimum amount of monthly exports to be "discounted" is $200,000 (USD).
The consultation should be done on a case-by-case basis for clients with exports of perishable products.
How does it work?
The client negotiates the payment term with the purchasing party. The Bank accepts up to 90 days as maximum term (120 days as exception, after consultation).
Payment process: after completing the discount request, FACTORING International advances the company 80% of the invoice value within 24 hours, it is then deposited in a checking account to the client's name in the Bank (in the USA), the client must make an international transfer to his checking account in Costa Rica.
When the invoice is due, the customer pays 100% of the invoice to the bank, at which time the Bank deducts the financial cost for the discount service, and the remainder is deposited in the customer's current account with the Bank.
Proceso de pago: después de completar la solicitud de descuento, FACTORING International le anticipa a la empresa el 80% del valor de la factura dentro de un plazo de 24 horas, se deposita en una cuenta corriente a nombre del cliente en el Banco (en USA), el cliente debe hacer una transferencia internacional a su cuenta corriente en Costa Rica.
Al vencimiento de la factura, el cliente le cancela al Banco el 100% de la factura, en ese momento el Banco se descuenta el costo financiero por el servicio del descuento y el remanente lo deposita en la cuenta corriente del cliente con el Banco.
Costs:
The annual interest rate ranges from 8% to 15% per annum. This will be defined by the Bank based on its final payers’ rating criteria on a case-by-case basis.
A management fee must be paid for approval of the credit line, which ranges from 0.50% flat to 1% flat. It is paid once the line of credit is opened, which will be defined together with the interest rate.