Canbank Factors Ltd, a subsidiary of Canara Bank, is a pioneer in the field of Factoring Services in India for last 29 years with a presence in 11 cities across country. The company’s business commitment is to convert the account receivables of the supplier into cash as soon as purchasers are billed. Factoring is an alternative form of post-sale finance. Factor purchases the Book Debts (receivables) of the supplier & pays upto 90% of invoice value. On due date the Buyer makes the payment directly to the Factor. Thus the factor ensures smooth fund flow to the supplier.
Canbank Factors Ltd. has retained its premier position in the Factoring Industry for more than two decades by extending credit facilities viz. Sales Bill Factoring (domestic), Purchase Bill discounting, invoice discounting, Vendor Finance Scheme, Corporate Loan Against Property, Loan against hypothecation of Plant & Machineries & Equipment’s. Most of our clients belong to Automobile Components, Bulk Drugs, Chemicals, Paper & Paper Packaging materials, Cable & Conductors, Electronics, Electrical Engineering and Service Sectors. More than 50% of the funds are deployed in the medium, small & micro enterprises (MSME).
We understand that the cash provides the necessary lubrication for the wheels of business and industry to move smoothly. A healthy cash flow is essential for meeting the commitments, statutory or otherwise. These days, where most of the sales are on credit, none can be sure of prompt payments. Irregular realization may result in inadequate cash flow and all consequential problems, the working capital cycle may come to a grinding halt. At this point the CBFL extends its services as a partner to fill the gap of the working capital cycle of the businesses & industries.