German factoring firms for freelancers
Thread poster: Robin Joensuu

Robin Joensuu  Identity Verified
Germany
Local time: 04:03
Member
English to Swedish
Nov 17, 2015

I will relocate to Germany in January and I am trying to wrap my head around the business aspects of moving.

When I do work in Sweden I sell my invoices to a factoring firm for 95% of the invoiced amount. In return they take the risk of non-payment from the client and pay me the money almost right away. Some factoring firms even pay on the same day as they receive the invoice.

So my questions are: Are there similar firms in Germany? How does it work? How much do they charge? Which have the best terms?

I have tried finding info myself, but it is a bit tricky with my so far quite limited German. Any tips are welcome.

[Redigerad 2015-11-17 12:08 GMT]


 

Andrea Halbritter  Identity Verified
France
Local time: 04:03
Member (2014)
French to German
+ ...
In my opinion not Nov 17, 2015

Never heard of that. I do not think that this sort of companies exist in Germany (nor France). The risk is always yours.

 

Robin Joensuu  Identity Verified
Germany
Local time: 04:03
Member
English to Swedish
TOPIC STARTER
There are plenty, apparently Nov 17, 2015

Hi Andrea,

Thank you for the reply.

Actually, they are quite common. I finally found some info (I am impatient). The first one I found is actually a Swedish company, which is quite funny. And after doing a bit of math, it seems like they are cheaper than the one I use at the moment - i.e. only 3-4% of the invoiced amount (before taxes) and they pay after 1-2 days after approved invoice, if I got it right. Not bad at all.

http://www.svea.com/de/deu/
https://www.google.se/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=factoring%20firmen%20deutschland


 

Sarah Lewis-Morgan  Identity Verified
Germany
Local time: 04:03
Member (2014)
German to English
+ ...
Try the Bundesband Factoring für den Mittelstand Nov 17, 2015

This is a list of their members:

http://www.bundesverband-factoring.de/mitglieder/


 

Robin Joensuu  Identity Verified
Germany
Local time: 04:03
Member
English to Swedish
TOPIC STARTER
Thanks Sarah! Nov 17, 2015

Much appreciated.

 

Sarah Lewis-Morgan  Identity Verified
Germany
Local time: 04:03
Member (2014)
German to English
+ ...
If they don't deal with freelancers, try: Nov 17, 2015

http://www.elbe-factoring.de/factoring-loesungen/factoring-fuer-freiberufler-selbststaendige


There are more. Just try "Factoring für Freiberufler" or "Factoring für Selbstständige".

Edited due to duplication.

[Edited at 2015-11-17 12:42 GMT]

[Edited at 2015-11-17 12:43 GMT]


 

Robin Joensuu  Identity Verified
Germany
Local time: 04:03
Member
English to Swedish
TOPIC STARTER
Just what I was looking for Nov 17, 2015

Thanks again!

 

Andrea Halbritter  Identity Verified
France
Local time: 04:03
Member (2014)
French to German
+ ...
Question Nov 17, 2015

Do they really take the risk as well?

 

Robin Joensuu  Identity Verified
Germany
Local time: 04:03
Member
English to Swedish
TOPIC STARTER
Most of them Nov 17, 2015

Not all of them, but this one seems to do so, unless there are limitations in fine print somewhere that I have missed.

http://www.elbe-factoring.de/factoring-loesungen/factoring-fuer-freiberufler-selbststaendige

I know that there are some factoring firms who only do this for an additional charge and a longer turnaround time per invoice where they do a client check.


 


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German factoring firms for freelancers

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