The Industrial Development Agency (IDA) in collaboration with KUKE Finance will introduce a new product – factoring for small and medium companies.
On 7 October 2019 IDA and KUKE Finance signed a cooperation agreement during Congress 590 in Rzeszow. Under the agreement KUKE Finance will offer factoring solutions for small and medium-sized companies associated in IDA’s Entrepreneur Service Centres.
“We are capable of ensuring fast and flexible solutions within non-recourse factoring services to IDA customers. This is an optimum tool for the SME sector, giving the certainty of fast financing and security when it comes to cooperation with buyers. It is worth noting that non-recourse factoring is the fastest growing variant of this service in Poland. It is particularly useful in trading between small operators where the risk of non-payment or long delays is very high, and small enterprises specifically are most at risk of losing their liquidity due to low capitalisation and limited access to external financing. We’re immensely pleased that we have commenced cooperation with the IDA, whose sales network is growing rapidly and has an impressive customer base. This is a new channel for reaching yet another group of entrepreneurs, which should come around to this financing for good, particularly that it also additionally ensures the management of receivables and soft collection, taking the burden of many additional duties and obligations off entrepreneurs,” Konrad Klimek, President at KUKE Finance, asserted.
