Baltpool adds factoring to its range of services to speed up payments for biomass
International biomass exchange Baltpool now offers a new service to its customers, invoice factoring, which will allow biomass market participants to promptly secure their working capital needs. The new service is expected to be of particular relevance to smaller businesses, which find flexible financing options highly important.
The factoring service will be available to Baltpool biomass exchange participants from Lithuania, Latvia, Estonia and Poland, i.e. the countries that currently have the most exchange market participants. Financing will be offered for the transactions made exclusively within the biomass exchange within 1 day after the customer’s account has been approved.
‘Currently, purchasing the same amount of biomass requires about 2.5 times more working capital than before. We therefore believe that our customers will appreciate the factoring service as a financial solution that will help them balance their working capital – to secure the funds quicker and get the money to work again,’ said Andrius Smaliukas, CEO of Baltpool.
For customer convenience, factoring contracts can be concluded by logging in to Baltpool’s electronic trading platform account. It will show all accounts for which the factoring service has been granted, also indicating their limits. The factoring service will be provided by SERGEL Finance.
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