Banque Internationale à Luxembourg (BIL) is announcing the launch of its invoice factoring solution using Edebex’s the platform. This partnership means BIL can propose an innovative cash solution to businesses and the self-employed.

By opting for BIL's invoice factoring solution, in partnership with the FinTech Edebex, businesses can accelerate their cash flow. All B2B companies, regardless of their size or business sector, can access it. What matters is the quality of the invoices sold on the Edebex platform. Companies sell their invoices before their due date, which allows them to have access to their money faster without having to deal with debt recovery. This solution supplements the usual cash management services offered by BIL, such as personal loans.

Jeffrey Dentzer, Deputy CEO of BIL states:

“At BIL, we understand the crucial role businesses play in our economy. For that reason, we are committed to developing innovative financial solutions, such as our new invoice factoring solution, in partnership with Edebex. This solution offers businesses and the self-employed quick and efficient access to a new source of cash, thus illustrating our ongoing commitment to supporting SMEs and large businesses in their journey to growth and success.”

Wim De Ridder, Edebex CEO adds:

“We are delighted to have forged this partnership with BIL. Together, we can support BIL’s clients in their search for growth-enabling financial solutions. We are honoured that our bespoke, flexible and accessible offering brings further added value to the portfolio of services already offered by BIL. With more than 10 years of expertise, we are adapting our skills to suit all business areas, thus meeting each need with agility and efficiency.”

To access BIL’s invoice factoring service using the Edebex platform, companies choose which invoices they wish to sell. For an invoice to be eligible, the corresponding services or products must have been delivered to the client and there must be at least a 30-day period between the date of issuing the invoice and its due date. Finally, creditor clients must be established in a selection of European countries. For BIL, this invoice factoring service is yet another demonstration of its intention to supply innovative solutions that meet the needs of businesses and the self-employed. Full details on the terms and conditions of use of this service can be found at www.bil.com/factoring