OREANDA-NEWS. November 29, 2011. Director of the Factoring Company Life regional center in Tyumen, Vassily Klimov, took part in the round-table and made a report on the "Leasing and Factoring services as new financial instruments". The event was organized by the Trade and Commerce chamber of the Tyumenskaya oblast in cooperation with the Department responsible for the Investment Policy and the State Support of Entrepreneurs with a view of providing consultations to representatives of the business community regarding the advantages of financial instruments, offered in this region, reported the press-centre of Probusinessbank.

In the framework of this event, Vassily Klimov made a report on the "Factoring services as a basis for the development of the small business and medium-sized companies in the Tyumenskaya oblast". The report analyzes the reasons why this form of the SME financing is not so widely-used in this region and explains why the state support is needed for the development of factoring services. 

"Today the situation in the Tyumenskaya oblast is as follows: the budget partially compensates only those SME costs, which are related to the use of financing. The compensation is provided in accordance with the CBR refinancing rate. The first installment for the leased property is also subject to this compensation, – noted V. Klimov. – Unfortunately, the provision of subsidies for factoring costs is still disregarded by the regional legislation bodies. At the same time the factoring services is actually the only instrument available to the small business and medium-sized companies, lacking a solid credit history or liquid assets to secure their loans (as a rule, these are trading companies)”.

The Factoring Company Life is the leader of the Russian Bank for Development federal program, focused on the support of SME in the Urals Federal District, which started in  2009. In the process of its work in this region, the Factoring Company Life gathered and summarized numerous requests from clients, interested in improving the situation with the SME support. The requests were addressed to representatives of the local legislation bodies. 

In the framework of the round-table, the Factoring Company Life proposed to draft a law in the Tyumenskaya oblast, providing for the support of the small business and medium-sized companies through the partial subsidies covering costs, related to the factoring payments. Participants also noted that it would be useful to arrange conferences and round-tables on a regular basis and invite SME representatives of the Tyumenskaya oblast to discuss any matters concerning the factoring deals. 

According to experts of the Factoring Company Life*, the realization of these proposals will allow the regional budget to triple the tax revenues from the SME within 5 years. 

The Factoring Company Life is the first and only Russian factoring company, specializing in the express-factoring services to the small business and medium-sized companies. The Company is a member of the Russian major Financial Group Life.

In 2010 RosBR recognized the Factoring Company Life as the "Factoring Company of the Year" for its most active support of the small and medium-sized business. The Company also became the laureate of the International Economic Project in the “Modenization Leader 2011” nomination for the promotion of high quality factoring services, thus enhancing the development of Russian economy in the small business segment. In June 2011 the Company gained recognition for the highest customer service standards and received the prestigious award of the “Financial Elite of Russia” in the “Customer Service” nomination. 

* The forecast is based on the model, which takes into consideration the analysis of the FC Life customers’ experience and provides for the growth of the Supplier’s trade turnover in the situation when the Supplier uses the factoring services 2-3 times in a year.