The enterprise was successful and in 2006, through a spin-off from the bank, the first Bulgarian factoring company was established.
In the following years the company focused on:
- Investing in factoring professionals
- Creating a sustainable organizational model
- Creating factoring products suitable with the dynamics of the Bulgarian market
- Creating trustworthy and long term relationship with its clients and partners
In the end of 2007 the company started offering factoring solutions to Bulgarian export companies through the services of the Factors Chain International (FCI). Few years later the company developed import factoring solutions again through the FCI network. In 2011 UCF enlarged its product portfolio trough the domestic non-recourse factoring.
Our goal is to continue the upward trend of our development. We are aiming to enlarge our product portfolio, broaden our knowledge and experience, in order to serve our clients’ needs and to help them grow in a sustainable way.
Intercom Group OOD
Is one of the first clients of UniCredit Factoring, since 2007. The team of the company is young, flexible, innovative and always oriented towards the need of the client. During the years of growth UCF was helping us with new limits on the domestic market and increased export limits covering our export needs.
Afterwards in the years of crisis, as a professional and loyal partner, UniCredit Factoring was constantly helping us, identifying the credit risk on one hand, and providing us with tailor made factoring solutions on the other.
We are working with UniCredit factoring since 2008. Every year we are gradually increasing the clients with whom we are applying factoring, both in Bulgaria and abroad. Based on the creditworthiness evaluation, carried out by the specialists in UCF, we manage to provide our clients with better trading conditions which allow us to realize higher sales and to reduce delayed payments. Further working under factoring is providing us with more freedom when communicating with the clients. Finally there is no doubt in the benefits of receiving financing on credit sales, which is increasing along with the increased orders, without any additional procedures, costs or collaterals.
The business relationship between Mikroak and UniCredit Factoring started in 2010. Our results, in terms of cash flow optimization during a period of business growth, are mainly related with this cooperation. The factoring team is highly competent, quick, flexible and devoted to the quality of the offered services. To date we have been using factoring only on the domestic market. In 2013 we are intending to develop our factoring portfolio by implementing export factoring for some of our clients abroad. Our general opinion is that we are working with established professionals and this is one of our main motives to continue our mutual work.
Our first collaboration with UniCredit Factoring was back in April 2010, then we signed a contract for domestic factoring with recourse. In August the same year we were already having and an export factoring contract. Receivable financing is from profound importance for us. This way we are able to promptly meet our expenses, having in mind the open account terms that we are offering to our clients. The factoring is also beneficial for knowing better our clients, their credibility and up to which amount we can safely work on credit with them. Last but not least it’s a pleasure for us to work with the team of friendly and proactive professionals in the company.
Initially we established contacts with UniCredit Factoring in the end of the summer of 2012, by the end of October we were having two active factoring contracts – for export factoring and for domestic factoring. These contracts are related with strategic clients of ours both in Bulgaria and in the European Union. The good terms and possibilities that UC Factoring is providing us, make us to believe that in recent future we will increase the number of clients included in the factoring contracts.
Throughout the negotiation process with our clients we are using the information that we have from UniCredit Factoring, related with the creditworthiness of the clients and their risk profile. This provides us with the opportunity to offer better terms to our current clients which leads to increase in turnover and reduce the amount of delayed payments.