Invoice Discounting (Factoring/ Forfaiting) Facility

Invoice discounting proceeds provides prompt access to cash created on receivables from contract employers. An invoice discounting loan makes cash available for jobs/contracts that have been successfully executed and it’s usually more flexible than a typical loan. The repayment is tied to the agreement existing between the issuer of the contract/purchase order and the contractor/supplier backed with duly executed Domiciliation agreement. Usually, only an agreed percentage of the invoice value is discounted. For this product, Mezcredit provides up to 70% of the invoice value to enable our customers meet working capital needs while awaiting payment for goods supplied or services rendered. Tenor of up to 90 days and a Tripartite Domiciliation Agreement is needed. For invoices to be tradeable under our invoice discounting service, it has to be with blue-chip companies and approved organizations.

Requirements For Invoice Discounting Loan

• Duly Completed Mezcredit Loan Application Form
• A recent passport photograph.
• Validated invoice
• Letter of Domiciliation Application letter.
• Favourable credit checks from two credit bureaus.
• Verified Invoice from approved vendors.
• Company Profile.
• Current utility bill.
• Two years Audited Account.
• Six (6) months Bank statement.
• Keyman Insurance.

OUR KEY VALUES

Our expertise in research is at the core of our value proposition to our esteemed clients seeking loans. With our keen insights and timely advice, our analysts generate reports that clients rely on to make objective and well-informed borrowing decisions.

• Loan tenor of up to 12 months
• Fast asset pickup within 48 hours of submitting completed documentation
• Purchase assets from The Brook Finance accredited vendors with warranties and active after-sales service
• All assets purchased will be registered and insured in the name of The Brook Finance Limited (ownership transferred upon complete repayment)
• Competitive and transparent interest rates