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K-Local Factoring (with recourse)
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Turn account receivables into capital.
Note: Subject to the conditions and criteria specified by the bank.
Turn account receivables into benefits.
With our professional payment follow-up services.
Up to 80% advance cash
of the total accounts receivable
Note: The rest of 20-30% will be received when the payment is made.
How to Apply
| Qualifications |
|---|
Customer- Have been in business for at least 3 years
- Registered as a VAT merchant
- Have sales turnover of 10 million baht per annum
- Allow payment credit term at least 180 days
- Profits in at least 2 out of the last 3 years are positive
- Not in NPL status
| Account Receivable- Have been in business for at least 3 years
- Registered as a VAT merchant
- Is in good financial status and trustworthy
- Have active transactions
- Neither have shares in related business nor is an authorised person to manage customers
- In case of check payment, payment location must be in the bank’s clearing district in Bangkok and vicinity, Chonburi, Rayong and Ayutthaya
- Can transfer the right
|
Frequently Asked Questions
Who is K-Local Factoring for?
- Clients who need the working capital to run their operations and enhance the liquidity of the businesses
- Clients with limitation on a guarantee
- Business with expanding venture / sales; a high growth potential in the future
- Clients in a shrinking industry but have reliable trade receivables
- Sales / services that provide a credit term for trade receivables
What are the lending criteria the bank consider for this type of loan?
The bank considers factoring for clients and set a limit for each entry of trade receivables. The lending criteria include the client’s qualifications and trade receivables according to the bank’s criteria.
What are the expenses involved when applying for a loan?
- The processing fee
- The factoring fee
- Interest
Can the loan be granted if the trade receivables are in other provinces?
Yes, the loan can be granted given that the trade receivables are paid in the form of cheque and must be within the area the bank authorizes; Bangkok, the Bangkok Metropolitan Region, Chonburi, Rayong, and Ayutthaya.
