Factoring or Invoice buying is a specialized facility that is available from KLIFT. It is available to those agro-vets who supply to selected customers in bulk but are not paid on delivery and do not have the capacity to extend the 60-90 days credit that such customers might want.
KLIFT facilitates this by entering into a tripartite arrangement so that the supplier agro-vet is paid by KLIFT when the supply has been made and the buyer pays the invoiced value to KLIFT after the agreed credit period.
The agro-vet must give a guarantee to K-LIFT that the buyer has the capacity to pay and in case the buyer is not able to pay the agro-vet will stand in for the buyer. This product will attract an interest rate of 2.5% per month with a repayment period of 3 months
Kindly contact us for more information.