Account receivables factoring, or simply receivables factoring, is a type of financing that allows businesses to turn their outstanding invoices into working capital that they can use for their business operations. Drip Capital makes this possible by financing upto 80% of the invoice value on the day of your export shipment, while the remaining 20% minus the factoring charges is paid once the buyer makes full payment to Drip Capital. This ensures a steady flow of working capital, essential at every stage of the business, from procurement of raw materials to production and shipment of the finished products to an importer overseas. Unlike a bank loan, Drip Capital’s receivables factoring solution is collateral-free and helps exporters get finance in less than 24 hours without having to wait for weeks or months to get paid for their shipment.
Have you extended a credit period to your foreign buyers? Do you often wait for payments? Is your bank’s restricted credit facility limiting the growth of your export business? Do you want a financial solution that is fast, paperless, reliable, transparent and collateral-free? If you have answered yes to any of the above questions, receivables factoring is right for your business. Here’s how our solution can help you grow your business.
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Experience the power of export financing with Drip capital