Instant Factoring, TechVentures Bank partner for Romanian SMEs

The partnership seeks to support any other company that has difficulties in managing the cash flow or that wants concrete development solutions as well.  

According to an analysis made by the White Cart of SMEs for 2020, 98% of the entrepreneurs said that they felt the impact of the COVID-19 pandemic and that they ran into difficulties like the lack of predictability of the firm’s evolution, decreasing of internal demand, and lack of staff. 

When the health crisis reached its apex, 63% of entrepreneurs self-financed their economic activities, the access to financing being another difficulty they felt, and only 3.4% of them utilised factoring. Depending on the business size, only 2.5% of the microenterprises, 4% of the small enterprises, as well as 11.3% of the medium enterprises used this solution.

TechVentures Bank set out to provide products and financial services that meet the expectations of its clients whose profile is continuously changing, technologies having an important role in this process. 

The application for financing from Instant Factoring is initiated from the TechVentures Bank website. The clients of economic entities that either have difficulties managing the cash flow or need concrete solutions for business development can benefit from the partnership with Instant Factoring.