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How Does Factoring Work?

The factoring cycle is summarized below:
 

  1. The customer (seller) sells the product, issues an invoice and sends it to the buyer. As a result, a receivable is created.
  2. The customer applies to Lider Factoring.
  3. The customer sends copies of the invoice and checks/promissory notes, if any, along with their contact information to Lider Factoring.
  4. After Lider Factoring receives the customer’s request, it examines the case as quickly as possible and informs the customers of the result. 
  5. The customer delivers all checks/promissory notes related to the receivable and other required documents to the closest Lider Factoring branch or a branch of a contracted bank.
  1. The advance payment is instantly transferred to the customer’s bank account.