Collecting and financing invoices through HSBC

HSBC has launched a new financing package targeted at business customers, offering a comprehensive Invoice Finance (Factoring) service.

"Business banking in Malta has seen considerable change over the years. We believe it will change again with HSBC's new Invoice Finance package, which will significantly help improve the cash flow of companies in Malta," HSBC's Commercial Banking head, James Dunbar Cousin, said.

Invoice financing involves a business selling its account receivables or debtors to HSBC, who take on the role of a factor and make immediate payment and then arrange to collect the debts.

HSBC will also maintain the seller's credit control function, by managing their sales ledger, collecting due payments from buyers and reconciling account receivables.

"We are regularly faced with customers going through difficult cash flow situations with debt turn periods getting longer and longer. Factoring will bring more discipline to local payment practices. We also feel certain that the debt term will decrease steadily as more and more clients appreciate the benefits of factoring, controlling costs and achieving peace of mind," HSBC Bank Malta's chief executive officer, Shaun Wallis, said.

For more information about Invoice finance, log on to the HSBC Website www.hsbc.com.mt/invoicefinance, or contact Customer Service on 2380-8800.