CASH-FLOW EASING
FACTORING
Do not let cash-flow issues slow down your growth!
Cim Finance has always been the key partner of small and medium-sized companies (SMEs). Cim Finance provides you with solutions that help you access the cash needed to support your business growth and save on administrative expenses.
Factoring is an efficient solution to boost the cash-flow of your company. You can improve your cash flow without having to wait for long payment periods, giving you the opportunity to focus on increasing sales and enhancing the relationship with your customers.
Cim Finance offers you a complete sales ledger administration and protection against debt insolvency. Time gained on managing clients' accounts allows you to focus on your business and save on staff costs.
- Submit relevant documents
- Once your file is approved, our representative will contact you within 24hr for the set up of the facility
- Send a copy of your credit invoices to Cim Finance and receive your advance within 24 hours following the submission of your invoices.
- To be eligible, your business must:
- Have been in operation in Mauritius for at least one year and be duly registered with the Registrar of Companies
- Be engaged in manufacturing, other productive sectors of agro-industry and eligible services sector except trade
- Sell on credit to other companies (B2B)
- Have an annual turnover of at least MUR 1,000,000.
- Financing of up to 90% of the amount of the invoice.
- A dedicated professional team for collection services.
- A competitive interest rate.
- Credit insurance to protect you against debtors’ insolvency.
- No floating charge or additional security.
- Real-time access to your factoring account.
- Business Registration Card
- Valid Trade licence
- VAT Certificate
- Recent proof of address of the business
- Bank statements for last 6 months
- Last 3 Financial Statements
- List of debtors
- Consent of Directors
- Constitution or Memorandum & Articles of Association
- Identity cards and proof of recent addresses of directors
- The above list is not exhaustive and other documents can be requested if needed
1. Have been in operations in Mauritius for at least one year and be duly registered with the Registrar of Companies.
2. Sell to other companies (B2B).
3. Holding a valid BRN.
4. Payment terms to debtors shall not exceed 90 days.
5. Invoices assigned should relate to goods already delivered and services already effected.
6. Invoices assigned should not relate to goods sold on consignment.
7. Inter companies transactions are excluded from the factoring agreement.
8. Cim Financial Services Ltd reserves the right not to finance an invoice.
9. Downpayment invoices shall not be financed.
10. All debtors that are also suppliers of the factoring customer shall be disclosed at time of application and during the factoring agreement.
11. The client shall inform and get clearance from Cim Financial Services shall he wish to enter into a factoring agreement with another factoring company during the course of the agreement.
12. The approved debtor shall not be financed or given as security to any other financial institution during the course of the agreement since it is the property of Cim Financial Services Ltd.
13. All invoices for a specific debtor shall be assigned to Cim Financial Services Ltd.
14. Must not be in business activities that are prohibited by local laws where the business is conducted.
Factoring benefits
Team
A dedicated professional Team
Credit cover
Protection against customers’ insolvency
Cash
Cash consolidated with the financing of up to 90% of the amount of an invoice.
Real time access
Real-time access to your factoring account
Quick financing
Financing within 24 hours
Any questions?
Visit our online support platform designed to assist you in finding answers to the most frequently asked questions about our services.
Online SupportRead moreRelevant documents
Business Registration Card
Valid operation licence
VAT Certificate
Proof of address of the business
Certificate of Incorporation
Bank statements for the last 6 months
Audited accounts for last 3 years
List of debtors
Consent of Directors or Memorandum & Articles of Association
Copies of identity cards and recent address of directors
FAQ
How is the interest calculated?
- The interest rate is an annual rate which is calculated on the amount financed by Cim to the client on a daily basis and is applied at the end of each month.