What is Check Discounting?

There is no doubt that companies all over the world today need some kind of financial support that can help them to handle their business transactions. Ellinas Finance PCL has been providing that since December 1992 when the company was established as private firm. However, in the year 2000 the company went public and shares of Ellinas Finance PCL were available to the people at the share market. The shares were traded at the Cyprus Stock Exchange with the ticker symbol ELF.

Today, Ellinas Finance PCL has been providing various financial options to the companies that require financial support. The company provides financial services like Margin Accounts Trading, International Money Transfer Services, Personal and Business Lending and Cheque Discounting which is usually called as Factoring. The company provides international money transfer through MoneyGram. Now, the company has been instrumental in providing better financial services to the companies in Cyprus.

The main aim of the company is to provide financial support to various businesses and individuals that need immediate money for various transactions. The company believes that they can provide financial assistance to the people to make their dreams come true and they do that with the help of long term relationships that they build with their clients. The company mainly focuses on discounting post-dated cheques. This is a special product that the company has designed for top clients and business owners where they can make the most of the time and money they have.

The company believes that all companies need high liquidity options that can help them to get better and immediate cash payments when they need it. ELF provides them with immediate finance that can help companies to buy better options that they need.

The cheque discounting process works in simple and easy way. The client brings in the cheque that is required for discounting. The company provides immediate discounts of 70% to 80% of the amount that is mentioned on the cheque.  The rest of the money is deducted as interest rates and handling charges. The remaining 20% or the left over money is paid at the maturity date of the cheque. This is really good for business clients as they get the liquidity that they need to buy new products and services for their business and trade with other business people.