In the normal course of doing business, many companies extend credit to their customers - usually 30 days from the invoice date. In the present economic situation, some customers may take a further 30 to 60 days to settle these bills. As a result, product and service providers may have to wait up to 90 days for payment. The resulting cash shortage can place a significant strain on the business and even threaten its viability.

In an effort to alleviate this cash flow problem experienced by small and medium sized enterprises (SMEs), CFSC has developed an Accounts Receivable Factoring Programme (ARFP) that provides working capital through the factoring of up to BDS$50,000 in receivables. Hence, the ARFP is a financial instrument which is used to provide cash to SMEs based on their outstanding invoices.  The process is as follows:

  1. The SME downloads and completes the Application Form which can be returned via e-mail at, via fax  at (246) 426-1869 or in person. 
  2. The application is evaluated and due diligence conducted, a process that should take approximately one week provided that all the required information is readily available.
  3. CFSC agrees to factor the SMEs receivables / invoices and the SME obtains the customer's permission and its agreement to pay the face value of the invoice(s) directly to CFSC within an agreed time frame (usually 60 days).  
  4. CFSC then pays the SME on the factored invoice(s) less a discount of 3% to 7% and a processing fee of ½ % of the total    amount to be factored. 
  5. The SME's customer(s) would then have 60 days in which to pay CFSC the full face value of the factored invoices.
  6. In the event that the customer pays CFSC within 30 days, the SME would be entitled to a 1% rebate.
  7. If the customer pays CFSC after 90 days, the SME would be charged a 1% late fee.

CFSC's factoring programme is geared towards, but not limited to, SMEs in the following sectors:

  • Agriculture / Livestock
  • Manufacturing
  • Food services
  • Tourism and tourism related industries
  • Services
  • Agro-industries

        For further information, click the link to download our Accounts Receivable Factoring Brochure.