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METTLE FACTORS IN SMALLER DEBT FINANCING

Empowerment company Mettle, now wholly owned by Hosken Consolidated Investments, has launched a factoring business,  called Mettle Factors, aimed at helping to fund smaller companies with turnovers starting at R150 000 a month. Factoring, also known as debtor finance, is a continuous funding arrangement between a factoring house and a seller of goods on credit where the factoring house purchases the seller s invoices for immediate cash Mettle Factors will comply with some aims of the financial services charter by providing working capital and bridging finance to small and medium sized enterprises and black empowered companies.

Source: Star Business Report – Renee Bonorchis