We provide working capital to SMEs.
With smaller and mid-sized SMEs. FACTS is not a micro-finance institution.
We specialize in Supply Chain Finance (“SCF”). That means we help companies balance their payables and receivables Supply Chain Finance stands for a range of financing products that always comprise 3 parties: Supplier | Buyer | Financier. We provide “Late Payment” solutions to Buyers that need to pay their Suppliers cash-on-delivery but are strapped for funds. And we offer “Early Payment” solutions to Sellers that want to ‘factor’ or ‘discount’ their sales invoices (rather than waiting 60-90 days to get paid).
No. We have many partners who specialize in providing long term finance or capital. But FACTS only specializes in SCF..
Almost all of us are ex-Bankers. We share a believe and passion that new avenues must be found to provide SMEs with the Access to Finance required to reach their full potential.
Historically FACTS has focused on the Food & Agriculture sector. But as we were growing, companies from other industries started to approach us for financing as well.
No. Companies that are starting-up and will need to complete a Proof of Concept phase before external financiers become involved. FACTS will work with you if you have a 2-3 year successful track record.
In Kenya, our credit limits range from KES 3 mln to 30 mln. In Uganda the range is UGX 100 – 600 mln.
Our interest rates are 2.5% per month calculated over the exact number of days that your credit is outstanding. In addition we charge a fee over each invoice that we process and finance.
Yes you can. FACTS does (in principle) not rely on physical collateral. The security that we would need are your accounts receivables. And in certain cases, we ask you to build up a % of the credit limit as a security deposit – we will explain how this works in our initial discussions.
You can find the application form on our website.
We work very fast and can obtain credit approving within 2 weeks. But the turn-around-time largely depends on how quickly you can provide us with the information, financial statements and documents that we need. Our document checklist is attached to the Application Form as an Annex.
FACTS is active in Kenya and Uganda. We are in preparations to start operations in Tanzania as well.