Union Bank launches Union Factors for SMEs

Union Bank of Colombo PLC (UBC) launched Union Factors, another value-added service to enhance the product offering to the Small and Medium Enterprises.

The Factoring Service of Union Bank, offers a speedy and efficient service to customers and provides cash upfront up to 85 percent of the invoice value for credit sales, as well as manage the customers receivables, enabling customers to focus on their business operations and take advantage of market opportunities, rather than spend time managing debtors, said Manager, Factoring at Union Bank, Dulina Seneviratne.

Business entities require cash to finance the working capital requirements as the business grows. By taking advantage of the benefits of Union factors, customers can conduct debt collection, pay off loans and other debts, carry out professional sales ledger management, meet seasonal demands, purchase inventory and fill orders faster.