Seylan Bank has launched Seylan Factoring, a new financial service designed to help businesses unlock funds by leveraging outstanding trade receivables. This service offers a fresh alternative to traditional lending by focusing on the quality of receivables and their collection process rather than broader repayment factors.
Seylan Factoring enables clients to access up to 80% of their invoice value within hours, with the remainder received once payment is collected. This rapid access to cash can improve cash flow, allow for early payment discounts from suppliers, and free up working capital for reinvestment or operational needs. Additionally, businesses can benefit from outsourced collection functions and sales ledger administration without needing to provide tangible securities.
The service is available to all types of businesses, including start-ups, SMEs, and corporates. It offers a practical solution for businesses seeking to streamline their cash flow, particularly those experiencing growth that exceeds their current credit line or those in need of quicker funds for expansion.
Seylan Factoring is ideal for businesses with quality receivables, those selling on credit, or enterprises requiring faster cash flow to support growth. It also serves businesses that do not qualify for traditional financing or whose financial statements do not fully reflect their potential.
This expansion of Seylan Bank’s product portfolio underscores its commitment to offering diverse working capital solutions. By introducing Seylan Factoring, Seylan Bank aims to enhance accessibility and user satisfaction in financial services, solidifying its position as a leader in customer-focused financial products.