May 2022
IMFact partners with Brighter Monday Kenya -Scale your Kenyan SME through invoice financing
Brighter Monday, Kenya’s leading human resources and HR services company, has partnered with IMFact, a Smart Finance alternative to traditional bank lending for Kenyan SMEs in supply chain businesses. The partnership will enable IMFact to reach and finance Kenyan SMEs through our joint campaign, which will run for a period of three months.
Why?
The economic downturn of the pandemic is still affecting businesses, which has slowed down activities and created roadblocks to growing and scaling operations. Our team at IMFact is addressing the lack of flexible and affordable working capital and offering SMEs the opportunity to holistically finance their business through factoring.
How?
We purchase our client’s portfolio of trade receivables with no collateral or guarantees required.
Usually, financing can only be provided by Kenyan banks if the loan is fully secured by means of collateral such as housing, land and personal guarantees. This is why IMFact’s product is unique because Kenyan entrepreneurs won’t have to wait up to ninety days before debtors pay their invoices, businesses now have the opportunity to immediately turn these invoices into cash.