Invoice Factoring is a business financing facility where businesses are able to sell their outstanding invoices to a Factor so as to get a cash advance of up to 85% of the invoice value within 24 hours.
The Factor, in this case Momentum Credit, takes responsibility of waiting on the invoice payment for up to 90 days, while your business benefits from the fast cash injection to boost your working capital.
Any business that engages in credit transactions. As long as there is a delivery note to show that goods were delivered and an invoice which would have to be presented to Momentum Credit for factoring.
Momentum Credit offers a credit lines to clients of between KES 1,000,000 to KES 5,000,000 depending on the strengths of their financials.
We charge a small standard processing fee for each advance and a discount fee depending on the number of days each invoice remains outstanding.
We finance up to 85% of the invoice amount, depending on credit days contained in the invoice.
24 months.
Up to 90 days.
Less than 7 days.
We advance money within 24 hours of receipt of an invoice and its supporting documentation.
We build up escrow reserves for each client to safeguard all parties from such an event.
The facility is unsecured. No property is required to cover the borrowing.
Through a Momentum Credit nominated joint account, in which all called invoices should be paid to
It is the client’s responsibility to collect invoices within the stipulated terms of trade. Momentum Credit shall only get involved once payment is late.
Yes. All customers must be pre-approved before processing any invoices.
