Invoice Discounting

This is whereby TFB will convert a client’s receivables into cash. The Bank will usually advance 60% on selective outstanding invoices, and will create a short term loan for the period these invoices are expected to take before settlement by the client’s buyer. This will therefore provide easy access to working capital for our clients.

Trade Financing
  • Selective: This facility is offered for selected invoices where buyers have a good payment and business track record.
  • Financing against Certified invoices: The invoices which are to be discounted should be certified by the buyer.
  • Assignment of proceeds: The Bank might request that the buyer files a commitment that the invoice payment will be settled through the client’s account with Top Finance Bank.
  • Repayment of interest and principle: Both the principle and interest will be repaid on maturity date of the short term loan.
  • Repayment period: These short terms loans do not exceed a period of 180 days depending on the trading cycle of the client.
  • Security: These facilities are currently offered to customers on a secured basis.