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). With the reintroduction in the 2016-2017 budgets of the SME Factoring Scheme, 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 SME. 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 bad debts. Time gained on managing clients' accounts allows you to focus on your business and save on staff costs.

Download the SME FACTORING SCHEME brochure

SME FACTORING SCHEME brochure 

 

Stages of your application

  • 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.

Eligibility

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 and other productive sectors of agro-industry except trade.
  • Sell to other companies (B2B)
  • Have an annual turnover not exceeding 50.000.000 MUR

Benefits

  • Financing of up to 90% of the amount of the invoice.
  • A dedicated professional team for  collection services
  • A competitive interest rate of 3.90% for beneficiary clients
  • Factoring charges not exceeding 1,5% of the invoice amount, with a 50% subsidy from the Investment Support Program for beneficiary clients
  • One-time signature charges
  • Credit insurance to protect you against bad debts
  • No floating charge or additional security
  • Real-time access to your account

Relevant documents

  • Business Registration Card
  • Valid operation 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

Factoring benefits

Cash

Cash consolidated with the financing of up to 90% of the amount of an invoice.

Factoring charges

Factoring charges not exceeding 1,5% of the invoice amount, with a 50% subsidy from the Investment Support Program for beneficiary clients

Interest rate

A competitive interest rate of 3.90% for beneficiary clients

No floating charge

No floating charge or additional security 

Signature charges

One-time signature charges

Team

A dedicated professional team for debt recovery

Relevant Documents

Audited accounts for last 3 years

Bank statements for the last 3 months

Business Registration Card

Certificate of Incorporation

Consent of Directors or Memorandum & Articles of Association

Copies of identity cards and recent address of directors

List of debtors

Proof of address of the business

Valid operation licence

VAT Certificate