US$5 million to support factoring services to small and medium enterprises
The International Finance Corporation, the private sector arm of the World Bank Group, will provide US$5 million to Factorline S.A. in Chile to support the company’s international factoring expansion and diversify its funding sources.
Factorline, established in 1993, is a leading factoring company that offers domestic and international services to small- and medium-sized enterprises (SMEs) in Chile. Factoring entails the purchase of accounts receivable from companies, with the purchasing party managing the loan collections. This financing option provides an efficient tool for working capital management, which is especially useful for growing smaller companies.
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