Bank of Georgia Provides Factoring Services to Badagoni

Bank of Georgia and wine company Badagoni have signed a factoring agreement in association with the Factors Chain International (FCI) which will enable the enterprise to significantly increase its export capacity.

According to well-known American publication, Entrepreneur, factoring is a financing method in which a business owner sells accounts receivable at a discount to a third-party funding source to raise capital.

“Bank of Georgia, as the only Georgian member of Factors Chain International (FCI), was one of the very first financial institutions to offer its clients local and international factoring services. It must also be noted that Bank of Georgia has signed an agreement with the European Bank for Reconstruction and Development regarding the financing of international factoring. Bank of Georgia is able to provide factoring services to any European country,” stated the Head of Corporate Banking Activities, Vasil Khodeli. 

Beqa Kirtava

29 July 2015 12:34