Discount on Invoice is an alternative way of drawing money against your invoices. It can provide a cost effective way for businesses to improve their cash flow.

Features

• - The invoice discounter (Bank) will first verify the business

• - The invoice discounter is notified details of the invoices in bulk

• - A fee is paid to the Bank usually a percentage of the value of invoices assigned and also pay interest on the net amount advanced.

• - The Bank will regularly check to see that your procedures are effective

• - Duration period is 60 to 90 days but can be renewed

• - Processing period is 3 to 5 working days

Requirements

• - Letter of request

• - Copy of ID if Rwandan or passport if foreigner

• - Financial statements for the last 2 to 3 years depending on the business

• - Pending invoices discounted and approved

• - Business contracts

• - Trade license

FAQ’s

1.       Who is legible to a discount on Invoice?

We consider business people and businesses that are able to provide all the essentials requested for by the Bank.

2.       If I require an extension on my payment period, is the Bank able to enforce it?

Provide a valid reason as to why you need an extension i.e. state the issues you had with the payments.

3.       How is interest charged?

We charge interest on a monthly basis