Advance Invoice Factoring
Under advance invoice factoring arrangement, money is paid by Orumfy to the business in advance. However, not the entire amount is paid in advance, but only a certain percentage of the receivables. The balance amount is paid on the guaranteed payment date. The held back amount is the margin ranging from 5% to 15% which is paid post realization of money.
Orumfy collects the agreed rate of interest for advance payment made to the business considering the short term rate, turnover, cash flow, and financial standing of the business,