Why is worth to sell invoices to Billecta and what are the benefits of signing a contract with us?

Billecta offers a beneficial service for financing the company’s operations based not on incurring liabilities and increasing the debt of the company, but on liquidating trade receivables, that is, on cashing “frozen” assets. This is one of several elements of the factoring’s advantage over debt financing, i.e. over loans or credits. Factoring at Billecta is a professional service in a modern edition and at a competitive price. We will finance your invoices quickly, in online mode, without unnecessary formalities, requirements or hidden costs.

What invoices does Billecta finance?

Invoices eligible for funding at Billecta must:

  • have a deferred payment for a minimum period of 7 up to 90 days,
  • be unexpired,
  • be documented and free of formal defects,
  • declare an indisputable receivable acknowledged by the recipient.

We finance invoices worth between PLN 1,500 and PLN 300,000. In the case of invoices expressed in a foreign currency, in particular SEK or EUR, USD, CZK, GBP the value of the invoice to be redeemed is decided by the individual assessment adopted by Billecta for a given case, although exceptions to the standard range of transaction values are contemplated here.

Do I have to sign any documents, and in what form?

Billecta makes every effort to ensure that the invoice purchase process is as deformalized as possible, and therefore quick and easy. Subject to special requirements resulting from the type of a specific factoring service and our current offer, the transaction is essentially carried out remotely, via an online channel and through our website, without the need to submit written declarations with handwritten signatures. All regulations and contract will be sent by electronic means.

How long will it take to process my application? After what time from sending the invoice I will receive funds to my account?

As a standard, we process an application to finance an invoice within one business day, informing the customer on an ongoing basis by electronic means of communication or by telephone about the subsequent stages of application processing, as well as about the final decision of Billecta. Payment of funds takes place immediately after the decision on financing and acceptance of the proposed terms of the transaction by the Customer, which in practice means posting the funds on the customer’s account either on the same day or on the next business day.

Will my contractor know that I am using the factoring service?

Notifying the recipient of the invoice about its purchase by Billecta depends on the type of factoring service chosen from the current offer of our company. In the case of classic factoring, as well as factoring without liabilities (non-recourse), Billecta, as a new creditor due to the purchased invoice, provides the recipient of an invoice with a notice of the right to receive payment. At the stage preceding the final decision on granting financing, Billecta reserves the right to contact the recipient of the invoice in order to confirm the legitimacy of the receivable. However, there are no negative consequences for our client – invoice issuer, and this should not have any negative impact on the business relationship between our client and his contractor. On the other hand, in the case of tacit (non-disclosed) factoring, it is our client – the invoice issuer, who remains to be the party obliged to settle the payment. Consequently, in this option, the invoice recipient is not notified of the assignment of claims to Billecta.

Does Billecta take over the payment monitoring of invoice receivables?

As with the issue of notifying the recipient of an invoice about the assignment, it also depends on the type of factoring service chosen from the current offer of our company. In the case of classic factoring, as well as factoring without liabilities (non-recourse), Billecta, as a new creditor due to the purchased invoice, undertakes activities in the field of monitoring the timeliness of payments from the invoice recipient. In the event of arrears in payment, this may also mean that Billecta initiates recovery proceedings, including court enforcement, against the invoice recipient. Monitoring payments in reference to the invoice recipient is pointless in the option of tacit factoring, where the customer – the invoice issuer – is obliged to settle with Billecta.

In what currencies is it possible to receive financing?

Payments from the Billecta to the seller (invoice issuer) are generally made in the currency in which the invoice is issued, i.e. in the conditions of domestic trade it will usually be PLN. Depending on the current offer of factoring services available at Billecta, the financing of invoices expressed in a foreign currency comes also into question, in particular in SEK (Swedish crowns), which we dedicate to Polish and Swedish entrepreneurs participating in the cross-border economic exchange between the Republic of Poland and the Kingdom of Sweden. On individually agreed terms, we can also offer buy-out of invoices in EUR, USD, GBP or CZK – for this purpose we encourage You to contact directly our specialists from the Customer Service Team by telephone or e-mail.

What is the cost of factoring service?

Billecta runs a transparent pricing policy. Therefore, you will not find a price list for our fees or a tariff of contractual costs for particular activities, as we do not use such fees and costs. Everything for your comfort and certainty as to the terms of cooperation with us. Our contractual remuneration for the factoring service provided is in fact the commission from the financed invoice. The amount of commission depends on the type of factoring service that you choose from the options available in the current Billecta offer, invoice value and payment deadline. This commission has the form of a discount (including VAT tax), by which the nominal value of your gross invoice will be reduced, before a payment to your account. Please be advised that as an entrepreneur, you can properly recognize the tax-deductible cost of the service we have provided for your company. We will issue and send you a VAT invoice for the provided factoring service. Due account in your tax settlements will also be taken of the amount of VAT that is included within the cost of the factoring service (i.e. gross commission charged by Billecta). While comparing our offer with competitors’, please do check whether the commission (discount rate), which they propose You, is in fact gross or net value.

Is factoring at Billecta available to all domestic entrepreneurs?

It uses to happen that the offer of domestic banks for microfactoring services is dedicated to entities with relatively high annual turnover, e.g. equalling to ca. 5 million PLN. At Billecta, we make every effort to provide our financing service to the widest possible range of companies, particularly not excluding sole entrepreneurs, micro-enterprises, partnerships, young companies, and even start-ups. A positive result of the verification of the application for financing also depends on the situation of your contractor (the recipient of the invoice) and the assessment of his payment reliability accepted by us.

Do you have any questions or comments about our services?

Contact us - we will be happy to help you!

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