OREANDA-NEWS. August 08, 2012. The company’s year-on-year turnover went up by 23% to reach RUR 10,931 billion. From the beginning of the year, 859 mid-sized companies and small business entrepreneurs have received the financing in the framework of factoring operations from the Factoring Company Life for the total amount of RUR 9,477 billion, which also exceeds results of the 1H2011 by 23%, reported the press-centre of Factoring Company Life.  

Most clients were financed in the framework of the federal program for the support of the mid-sized companies and small business, which has been implemented by the Factoring Company Life and the OJSC "MSP-Bank" (State Corporation "VneshEconomBank") since 2009, and in 2012 the financing reached RUR 2,6 billion.

The number of rights to claim the debt which were assigned to the Factoring Company Life during 6 months of 2012, compared with the same period in 2011, went up by 37.6% to reach 126 603 shipments. The number of active debtors of the Factoring Company Life has increased proportionately. The turnover rate of accounts receivable reached 58 days.

An important event, which occurred in the first half of the year, was the Financial Elite of Russia award, which was given to the Factoring Company Life in June 2012. The company was awarded as the "Factoring Company of the year in the sphere of servicing and financing the small business and mid-sized companies".

The company’s plans for the second half of the year include further active expansion of the customer base and portfolio of commercial factoring operations for the small business, supported by the OJSC "MSP-Bank" (State Corporation "VneshEconomBank").

General Director of the Factoring Company Life Alexander Karelin: "Today we focus our efforts on getting prepared to the active growth in autumn and winter. We do everything possible to improve the customer service standards and train our staff to be able to satisfy the avalanche demand for our services in the peak season of business activity and deliver on our  promise to customers – assist the fast-moving and secure business growth of our clients - small business entrepreneurs and mid-sized companies, selling goods and services with deferred payments".

The Factoring Company Life is the first and only factoring company in Russia to specialize on express-factoring services for the small business. The Factoring Company Life offers a full range of factoring services to clients, including the provision of financing and management of accounts receivables, insurance against risks, related to the financing of commodities business – in the framework of factoring operations with recourse and without recourse.

The Factoring Company Life was set up in 2007 as a member of the Financial Group Life. Today the Factoring Company actively works in such cities of the Russian Federation as Moscow, Saint Petersburg, Ekaterinburg, Ufa, Chelyabinsk, Tyumen, Novosibirsk, Saratov, Volgograd, Penza, Kaluga, Krasnodar, Ivanovo, Rostov-na-Donu.