Payment financing services
This service allows companies to finance supplier payments for an additional 90 days from the initial payment date agreed with the supplier. The service also includes a streamlined payment process.
The simple and practical two-part process is as follows:
- Direct payment: supplier payments are made by issuing payment orders through invoice letters falling due at a specific date. These invoices are payable upon maturity, unless cancelled by the issuer or if insufficient funds are available.
- 2. Financing up to 90 days: We finance payments up to 90 days from the initial deferred payment date.
Advantages:
- Allows for closer matching between client collections and supplier payments
- Minimises the impact of Law 15/2010 governing the reduction in payment periods
- Streamlines supplier payment (direct payment system)
How are supplier payments financed?
The process is as follows:
- Clients contract the Revolving CAN product, which features a loan sub-limit, allowing them to finance working capital operations in Caja Navarra
- Clients activate the e-banking (Clavenet) feature in order make direct payments
- Clients complete a direct payment listing
- Clients request financing for these payments at the Caja Navarra office or through its manager. This financing is activated upon the initially agreed payment date.
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