BeneFactors is a Rwandan factoring firm. We offer working capital solutions to companies across all sectors of the economy.
If you have pending payments from trustworthy clients but need cash today, we want to hear from you
First the supplier secures the deal based on their capacity to deliver quality products for their buyers. The contract is then serviced, goods and services are delivered and an invoice is submitted.
Rather than waiting for the buyer to pay the invoice, which may take weeks or months, the supplier turns to BeneFactors to turn the pending invoice into cash.
Once due diligence is completed, BeneFactors makes an offer and can disburse up to 70% of the invoice amount within 24 hours of signing agreements. The supplier instructs the buyer to pay BeneFactors directly and is able to continue its business without having to wait for the buyer to pay.
BeneFactors conducts its due diligence. This involves checking the credit score of both buyer and supplier as well as their history. To facilitate this, BeneFactors asks the supplier for some documentation, including a bank statement, an invoice ageing report and previous invoices to the same buyer that they have received payment for.
On the invoice due date (...or maybe a bit later), the buyer settles the invoice to BeneFactors.
BeneFactors disburses the remaining 30% to the supplier, minus fees.
Filled application form, detailing what invoice(s) you would like to factor
Copy of previous invoices to the same buyer
Copy of the signed contract, against which goods or services have been delivered
Filled invoice ageing report covering all your sales in the past six months
Tax clearance certificate from RRA
A bank statement no older than 30 days
Full registration details from RDB
It takes five working days for us to consider your case and disburse funds if approved.