Cash your bills smartly!
- A quick and easy way to increase working capital
- Receive the money immediately instead of waiting for payment deadlines
- Greater control over cash flow planning
Finora Bank UAB (Lithuanian) price list*
Valid from 20.09.2022
Loan agreement related fees
|Agreement fee||For business loans, microloans, leasing: starting from 1% of the loan amount, no less than 200€|
Factoring: starting from 0.5%, no less than €150
Fee for issuing a guarantee, which is secured by a full deposit of funds: starting from 0.5%, no less than €150
|Amendment of the agreement||If a Bank’s decision is required for a Business Loan, Microloan, Leasing, Factoring: 0.5%, no less than 150€|
If the Bank’s decision is not required Business Loan, Microloan, Leasing, Factoring: 100€
Fee for issuing a permit (certificate) for a secondary mortgage in favour of another creditor, confirmation of the decision on the provided financing: starting from 0.5%, no less than 150€
Issuance of permits, letters of consent and other documents: 50€
Fee for adding a new buyer in factoring:100€
|Early repayment fee||For business loans, microloans, leasing: 2%, no less than 150€|
|Changing the payment date||First time it is free of charge. Second and following: 100€|
Fees related to the breach of a agreement by the borrower
|Reminder e-mail (first two)||Free of charge|
|Fine level for delayed payment||overdue rate per day 0,1%|
* In the event of changes in laws or tax requirements, Finora Bank UAB reserves the right to unilaterally change the prescribed fees or calculate mandatory additional fees if required by law.
What is factoring?
Factoring allows you to eliminate long payment deadlines and turn invoices directly into money. Financing sales invoices frees money that can be used for business development.
Doing business is inspiring and motivating. The success of small businesses largely depends on the payment discipline of customers, and it is often necessary to cooperate with large distributors to stay competitive. This form of cooperation is very beneficial, but it also comes with risks in the form of very long payment deadlines. Therefore, the success of a small business can sometimes experience more difficult periods, because it can take over a month to collect an invoice and there is a lack of reasonable financial solutions. Finora wants to offer its customers flexible and affordable methods of financing. One of them is factoring, which has gained great popularity around the world, especially among small businesses.
Why choose factoring?
- Quick and easy financing
- Improved liquidity from freed-up working capital
- Easier cash flow planning
- Customers can be given longer payment deadlines
- The financed invoices usually serve as collateral and no additional collateral is required (unlike a loan, where a collateral is usually required)
- Increases control over buyers, improving their payment discipline and reducing payment risk
What does Finora factoring include?
- Financing invoices
- Invoice management
- Buyers’ credit risk assessment
- Collection of receipts and their transfer to the seller
- Reminders to buyers in case of overdue invoices
- Feedback on buyers
- Minimising the risk of bad debts
- Communication with debt collection companies and debt collection from buyers, if agreed between the parties