Moscow, Apr 1: Sber’s new solution complies with the Indian law and is intended for companies operating in India on a deferred payment basis. Factoring financing is provided against the assignment of receivables, without collateral and with a minimum package of documents. The key advantage is fast online transactions with electronic document management.
Thanks to the service, Indian entrepreneurs will have access to working capital without lengthy approvals. This will allow them to quickly purchase raw materials, expand production and accept new orders.
Factoring is beneficial to all parties to the transaction. For suppliers (MSMEs), this is a stable flow of money and the ability to guarantee the production and shipment of goods on time, and for their customers – reliable and uninterrupted supplies.
Igor Lysenko, Director of the Trade Finance and Factoring Department, Sberbank:
«According to forecasts, by 2030, India will become one of the top three economies in the world. This requires flexible financial instruments: sellers need stable working capital without collateral and long-term approvals, and buyers need reliable supply chains. Sber’s factoring successfully solves these problems: entrepreneurs will be able to attract financing in rupees and work with the largest players in the local market on a deferred payment basis of up to 180 days. This will help companies to quickly develop new niches, improve the quality of goods and services supplied, as well as increase trade with foreign partners, including from Russia».
Factoring from Sber expands access to liquidity for Indian businesses and supports the development of modern financial solutions in one of the most dynamic markets in the world.
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