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Instant Factoring and Tech Ventures Bank help Romanian SMEs receive funding more easily.

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Tech Ventures Bank, Romania’s first online microfactoring fintech, Instant Factoring dedicated to SMEs and micro enterprises, and Romania’s universal bank with a 13-year history in the market, to support SMEs. We are affiliated. Other companies that have difficulty managing cash flow or need specific development solutions.

The partnership with TechVentures Bank SA, a bank for instant factoring and small businesses, is an opportunity to bring 100% digital finance solutions to the people needed to sustain their business. Tech Ventures Bank invoices existing and potential SME clients in just a few hours via a simple process that allows them to apply for funding from Instant Factoring not only from the bank’s website, but also from its branches. Provides the possibility of converting to liquidity. ,, Instant Factoring CEO Christian Ionesk has declared.

According to an analysis conducted by SME Whitecart in 2020, 98% of entrepreneurs feel the impact of the COVID-19 pandemic and face difficulties such as lack of predictability of corporate evolution and internal decline. Said that there was a shortage of demand and staff.

When the health crisis culminated, 63% of entrepreneurs funded their economic activities, access to financing was another difficulty they felt, and only 3.4% used factoring. was. Depending on the size of the business, only 2.5% of micro enterprises, 4% of SMEs, and 11.3% of SMEs used this solution.

“The partnership between Instant Factoring and Tech Ventures Bank is a natural answer to provide access to alternative sources of funding to cover the needs of these companies. Therefore, entrepreneurs can raise their funding. Invoice approved for payment by business partner You can access your current cash without having to wait to collect them money transfer And investment. Following these benefits, there is also the time savings of externalizing invoice collection. 52.4% of entrepreneurs believe that speed of service is the most important criterion when choosing a funding partner. “, Add CristianIonescu.

TechVentures Bank embarks on providing products and financial services that meet the expectations of clients with ever-changing profiles, providing technology that plays a key role in this process.

“Collaboration with Instant Factoring has helped banking strategies with the fact that it facilitates online access to products offered by our partners. At the same time, to convert invoices into liquidity. Rapid solutions expand the range of lending products that clients can benefit from. The common goal of this year’s TechVentures Bank and Instant Factoring is to facilitate access to financing for as many small businesses as possible. We aimed to reach as many entrepreneurs as possible so that we could raise a significant amount of money by the end of the year. “, Declared by Cristian Alexandru Nae, Deputy General Manager of TechVentures Bank.

The process is very simple and the loan application from Instant Factoring IFN SA starts from the TechVentures Bank SA website. In partnership with Instant Factoring, IFN SA can benefit economic agents who have difficulty managing cash flow or need specific solutions for business development.

https://www.romaniajournal.ro/business/financial/instant-factoring-and-techventures-bank-are-associating-for-romanian-small-and-medium-businesses-to-receive-financing-more-easily/ Instant Factoring and Tech Ventures Bank help Romanian SMEs receive funding more easily.

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