Factoring Funding

You can benefit from the long-term experience and know-how of the NBG Factors team, together with cutting-edge IT infrastructures.

Working with NBG Factors, you can access quality services that help you strengthen your business's liquidity and ensure its growth.

Factoring

Enhanced liquidity

Effective management and collection of receivables

Debtors' solvency checks

Credit risk coverage

Enhanced business extroversion

Our Services

Financing

You can turn credit sales into working capital by immediately discounting the pre-agreed percentage of the value of your receivables.

Manage and collect

Enjoy integrated management of your receivables portfolio as well as effective, cutting-edge collection and credit line control processes.

Credit control

NBG Factors assesses the credit standing of debtors, in line with the applicable regulatory framework, with a view to mitigating credit risk against debtors.

Our products

Domestic Factoring

NBG Factors undertakes to instantly discount part of the value of your business’s receivables, manage and collect the assigned receivables, and assess the credit standing of your debtors while mitigating bad debt risk.

Export Factoring

NBG Factors undertakes to discount and manage receivables, collect assigned receivables from partnered correspondent factors abroad, cover customers’ insolvency risk by 100%, and relieve customers from having to deal with time-consuming language, geography, and legal issues arising in the context of negotiations with the debtors.

Reverse Factoring

Reverse Factoring is a contemporary tool that enables your business to release working capital while benefiting from more favorable credit terms offered by your suppliers.

“

We have created an integrated digital platform for our individual and business customers, which is currently being used by around 2.3 million customers and can support more than 8 thousand users, 60 thousand calls and 3 thousand money transactions per minute on days with heavy workloads. This is the largest volume of transactions serviced in the Greek banking market.

Stratos Molyviatis

Group Chief Operating Officer at National Bank of Greece

“

The digital transformation of businesses is not a luxury, but an actual need and it does not concern just a few companies or sectors, but every company and every sector. NBG’s comprehensive and integrated Digital Proposal for its business customers is here to provide easy-to-use solutions and tools, thus responding to the needs of every Greek enterprise.

Vasilis Karamouzis

General Manager of Corporate and Investment Banking

Do you want more information?

Should you have any queries, you can contact your Relationship Manager or Corporate Transaction Banking Officer, visit any NBG branch, or the NBG Factors website.

I want to get in touch

Do you want more information?

What is Factoring?

Factoring is an agreement between the factor and the supplier, by which:

(a) the supplier can assign his/her claims against customers (debtors)

(b) the factor should provide at least two of the following services:

Advance payments (financing) for the purchase of trade receivables.

Accounting management of the debtors’ accounts.

Collection of trade receivables.

Cover of credit risk.

How soon can I get the financing?

Usually the financing is carried out on the next business day following notification of receivables.

What is the procedure for assignment of receivables?

The supplier signs a Factoring agreement with NBG Factors and notifies the debtors (customers) in writing of the assignment of the debtor receivables to NBG Factors

Following delivery of goods or the provision of services, the supplier notifies the factor of his/her assigned debtor (customer) receivables

The factor grants advance payments (provides financing) to the supplier on the basis of the value of the receivables assigned.

The debtor pays to the factor the value of the receivables that the latter has undertaken to manage and collect.

What's the cost of Factoring?

The overall cost of Factoring involves two cost components:

The management fee, which is charged on the value of assigned receivables and includes the administration, collection and insurance cost of the services provided.

The prepayment fee, which is calculated on the basis of the daily balance of the current account, and corresponds to the lending rate applying to the outstanding discounted receivables at any given time.