POS Factoring is an innovative and unique service introduced by PKO Faktoring in the Polish market, specifically designed for micro and small entrepreneurs. This solution offers a financing limit of up to PLN 300,000 (approximately EUR 70,000).
Service Overview: POS Factoring enables the financing of purchase invoices with deferred payment dates, allowing repayment through turnover from payment terminals. The maximum financing period for purchase invoices is 120 days.
Key Benefits:
- Accessibility: This service makes corporate financing accessible to smaller entrepreneurs.
- Simplified Settlement: Integration with payment terminals and a straightforward settlement model.
- Extended Financing Period: Allows clients to focus on business growth without worrying about timely settlements.
Client Advantages:
- Quick Access to Funds: Clients receive modern and swift access to money within the granted factoring limit, with automatic deductions from terminal turnover.
- Enhanced Financial Liquidity: Improved liquidity through financing purchase invoices and extended repayment dates.
- Peace of Mind: Full control over the service with automatic repayments and access to repayment status via the Factornet system.
How it works:
- The entrepreneur purchases and receives goods or services from a supplier.
- The purchase invoice with a deferred payment date is transferred to PKO Faktoring under a pre-signed agreement.
- PKO Faktoring finances the invoice by paying the supplier.
- The client receives a new deferred payment term from PKO Faktoring.
- Debt repayment is automatically collected from the payment terminal turnover in small, proportional parts.
Example: For a purchase invoice with a 30-day payment term, PKO Faktoring settles the obligation to the supplier. If a 45-day repayment period is agreed upon, the repayment will be collected in 1/45 increments of the invoice amount.
Eligibility:
- Clients using PKO Bank Polski and eService services for at least 12 months.
- Entrepreneurs operating for at least 24 months.
- Sole proprietorships, civil partnerships, partnerships, or capital companies with full financial reporting or simplified accounting.
About PKO Faktoring: PKO Faktoring is one of Poland’s largest factoring companies, financing over 1.2 million invoices annually, with a total value of PLN 31 billion. Serving 3,300 clients, PKO Faktoring has been a market leader for 15 years, offering a comprehensive range of services from Invoice Financing to Classic Factoring and Supplier Financing Programs.
Source: PKO Faktorong‘s press release
