PRIVATE CUSTOMERS BUSINESS CUSTOMERS About bank C REWARDS
PRIVATE CUSTOMERS
BUSINESS CUSTOMERS
About bank
C REWARDS
  1. Business
  2. Trade finance
  3. Necessary documents for factoring

Necessary documents for factoring

Factoring services are useful, if it is necessary to increase your company’s working assets, expand your product market and reduce invoice administration costs to improve your company’s operations. Such services are mainly chosen by wholesalers and producers to avoid the freezing of working assets and to improve cashflow.
You may apply for factoring or receive advice at Citadele branch. To do this you must fill out a factoring application form, visit a Citadele branch and present the following documents:

  • Application
  • Copy of the Articles of Association or registered Amendments to the Articles of Association of your company (presenting the original)
  • Audited annual report for the previous financial year
  • Financial report for the current year (for 3, 6 or 9 months, respectively) and profit/loss account
  • Transcript of the key items of the balance sheet (debtors, stocks, fixed assets, creditors)
  • Copies of ID documents of the company’s representatives having signatory powers (presenting the originals) and a document attesting signatory powers
  • Copy of Purchase/Sale Agreements with the specified buyers
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