Jungjingong Holds 'Visiting Policy Consultation' at Ansan Banwol Industrial Complex

Introduction to Accounts Receivable Factoring and Policy Funds
80% of Annual Budget Executed Within 5 Months of Starting Accounts Receivable Factoring Business

[Asia Economy Reporter Kim Cheol-hyun] The Small and Medium Business Corporation (Chairman Kim Hak-do, hereinafter referred to as SBC) announced on the 14th that it held an 'On-site Policy Consultation Meeting' at a cafe in Banwol Industrial Complex, Ansan-si, Gyeonggi-do.

This event was organized to enable more companies to easily utilize support projects such as accounts receivable factoring (hereinafter referred to as factoring), a new SBC project this year, and policy funds. More than 300 employees from small and medium enterprises in Banwol Industrial Complex participated in the event.

Factoring is a method where SBC purchases accounts receivable held by small and medium enterprises 'without recourse,' supporting early cash conversion for SMEs that have sold products, and then collects the accounts receivable from the purchasing companies.

SBC is conducting all support procedures for factoring non-face-to-face and online to enhance convenience and accessibility for SMEs. Since the project was officially launched in April this year, more than 80% of the annual budget has been executed as of September, receiving positive responses from SMEs.

Chairman Kim Hak-do said, "SBC is providing rapid support through factoring to resolve short-term financial difficulties of small and medium ventures caused by exchange rate and raw material price surges," adding, "We will continue to visit company sites so that our small and medium ventures can be well informed about SBC's support systems and utilize them extensively."

This content was produced with the assistance of AI translation services.