PRIME
Factoring Group

АО “PERVOURALSKBANK” and Prime Factoring

  • Association of AO “PERVOURALSBANK” Bank-Factor (Bank of Russia general license No. 965 of 18 May 2015 for banking activities) and a non-banking factoring company Prime Factoring.

  • Specialize in factoring of accredited accounts receivable for small and medium-size businesses (typical factoring under assignment of receivables to major debtors) and for suppliers with the turnover over RUB 5 bln (typical and confirming factoring).

  • Cooperate with major Russian and foreign federal and regional networks, successful internet-retailers, mobile operators, food producers, oil and gas companies.

PARTNERSHIP RELATIONS WITH MAJOR DEBTORS

Partnership agreements and direct dispatch verification with debtors allow for:

  • risk reduction with regard to late payment of debt;
  • faster provision of factoring financing starting from the dispatch moment to the receipt of money from the factor.

Limits for major debtors are pre-confirmed by the Bank -Factor, thus suppliers’ financial soundness is not assessed and is not a criterion for taking decisions with regard to transactions.

We use open schemes of factoring servicing where a tripartite notification is signed about the assignment of monetary claims to the debtor. The Bank-Factor files all necessary documents with the debtor by itself.

INSURANCE OF ACCOUNTS RECEIVABLE

The Bank-Factor’s factoring portfolio is insured by one of the TOP-10 Russian insurance companies.

The insurance covers the following risks:

  • debtor’s “bankruptcy”;
  • “longstanding non-payment” from the debtor’s side (non-payment of accounts receivable over 150 days).

In case of late payment of debt by the debtor, losses are covered by the insurer.

FINANCIAL SOUNDNESS

The Prime factoring group, which includes the Bank-Factor AO “PERVOURALSKBANK” and a non-banking factoring company Prime Factoring, uses both its own funds and borrowed funds for factoring transactions financing.

The combination of standard banking funding from AO “PERVOURALSKBANK” – the group’s own bank – and financial borrowing in the market by a non-banking factor – Prime Factoring – in order to finance factoring transactions ensures that the Prime group:

  • does not depend on one financing bank or one banking group;
  • can promptly provide financing to our clients within the framework of established limits.

REPUTATION

Our reputation is being confirmed daily – by our partner debtors' decisions to recommend us to their suppliers as a financial partner who:

  • takes decisions on a transaction within one working day;
  • concludes a factoring agreement within one working week;
  • is ready to start financing as soon as the notification is signed by the debtor about the assignment of debts.

Need more information?

To get more detailed information about our services and terms of factoring servicing, please contact our account managers:
Tel: +7 (495) 134-00-01
E-mail: factoring@pervbank.ru

Need more information?

To get more detailed information about our services and terms of factoring servicing, please contact our account managers:
Tel: +7 (495) 134-00-01
E-mail: factoring@pervbank.ru