engen capital Factoring enters the market Where it identifies that there is a lack of a concrete offer serving medium-sized companies, As the supply of banking institutions has decreased and other market participants have left the sectorJuan Pablo Loperena, CEO of Engen Capital, conceded during the presentation of this new product.
What is demanded with the product is that medium-sized companies have a greater ability to finance working capital, Since it has been recognized that companies lack the structure to take advantage of the resources in this type of infrastructure, considered a manager.
Engen Factorje is oriented to be able to finance accounts payable and accounts receivable and to be a 100% digital solutionAl, e. firm (SAT) becomes a more agile contracting process, as artificial intelligence is available for the development of this process.
In recent years, Engen Capital has created Invested over $10 million in technology (mdd), which aims to streamline the authorization process with greater accuracy.
“With the digital platform, customers can select approved invoices, request discounts, receive estimated prices and keep track of their factoring lines, even from their cell phone,” Commercial director Maurizio Piva told.
for this year, Engen Capital aims to channel resources for 11 thousand 696 million pesos (MDP) Through its various products (finance leasing, net leasing, trade credit and factoring), Of which 10% is estimated to be allocated to factoring with 1,170 million pesos.
Engen Factorize’s proposition is to provide liquidity to companies from the assignment or sale of accounts receivable, arising from the sale of goods or services, with payment terms that typically range between 30 and 120 days. , in both pesos and dollars.
Maurizio Piva highlights that Engen’s offer is oriented towards two lines, the traditional factoring of accounts receivable, but also that represented by accounts payable, “factoring for suppliers is a mechanism that allows companies to receive their payments In our case, we offer liquidity, to grow together, enhancing market ratings and companies’ relationships with their strategic suppliers”
Based on the statements made by the directors, Engen Capital currently has a presence in 90% of the industrial and service sectorsWhere their factoring offers will be channeled is where they expect greater depth with mid-sized companies.
“Companies are aiming to do more planning in both the short and long term,” Loperena said.
Among the conditions that companies must consider to be candidates for this product are a turnover of 100 million pesos between two and three years of existence, a positive result at the credit bureaus,” as well as the need for factoring working capital. to invest in”, highlighted the CEO of Engen Capital.
Between 2012 and 2022, Engen Capital has provided just 121 thousand 800 million pesos in funding, Where transport contributes around 19.5% of these assets, food and beverages account for 13% and services as the third commodity with 9.4 per cent.
For the Engen Factoraje product, Juan Pablo Loperena highlighted that through their subsidiary TIP Mexico they will take this option to market, where they expect solid growth.