Under a factoring facility, Hermes provides working capital to a business by buying unpaid customer invoices (debtors) for immediate cash.
How Hermes Works
The business raises its invoices as it normally would on delivery of its goods or services.
Copies of customer invoices are forwarded to Hermes for processing.
Hermes advances funds against the value of the invoices purchased – within 24 hours.
As the client’s customers pay their invoices, Hermes releases the remaining previously unpaid balance less a small fee and any credits or discounts.
Factoring with Hermes provides businesses with a line of credit geared to sales and growth by releasing funds that would otherwise be tied up in the debtors’ ledger.
Hermes provides factoring facilities from $0.5m to $10m
