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France Épargne Corporate

Receivables financing programme

France Épargne Corporate connects companies seeking to finance €20m or more with the private debt funds whose ticket size, instruments and sectors match their case. Factoring companies purchased €439.4bn of receivables in France in 2025.

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Factoring in France in 2025

€270.3bn
of domestic receivables purchased through factoring in France in 2025 (stable year on year)
€36.4bn
of export receivables purchased through factoring in 2025 (+14.4% year on year)
30,515
companies were clients of factoring companies at 31 December 2025 (31,048 a year earlier)

Techniques

Receivables financing techniques

  1. Factoring

    The company transfers its trade receivables to a factoring company. The factor pays the invoices in advance, manages the sales ledger and collects unpaid amounts.

    Compare factoring, ABL and securitisation

  2. Dailly assignment

    The company assigns or pledges its business receivables by handing a schedule to its lender.

  3. Receivables securitisation

    The company sells a portfolio of receivables to a securitisation vehicle. This vehicle issues securities on the capital markets to pay the purchase price.

  4. ABL facility

    A credit facility whose available amount follows a borrowing base calculated on eligible receivables and inventory.

    Asset-based lending

Market

Receivables financing techniques and factoring activity

Three techniques for financing trade receivables
TechniqueAssigneeSource of the financing
Dailly assignmentCredit institution, finance company or authorised alternative investment fundCredit granted to the company, secured by the assignment or pledge of the receivables
FactoringFactoring companyAdvance payment of the transferred invoices, management of the receivables ledger and collection
SecuritisationSecuritisation fund or securitisation companyBonds or commercial paper issued on the capital markets
Activity of factoring companies in France in 2025
ActivityReceivables purchasedAnnual change
Domestic factoring€270,285m0.0%
International factoring€169,145m+5.0%
Total€439,430m+1.9%

Outstanding receivables to be collected at 31 December 2025: €66,070m.

Questions

Frequently asked questions

What must a Dailly schedule state?
The schedule states its name as a deed of assignment or pledge of business receivables, the reference to Articles L. 313-23 to L. 313-34 of the French Monetary and Financial Code, the name of the beneficiary and the description of the receivables. A document that lacks one of these statements does not count as a deed of assignment or pledge of business receivables.
From what date can a Dailly assignment be enforced against third parties?
The assignment or pledge takes effect between the parties and becomes enforceable against third parties on the date written on the schedule when it is handed over. No other formality is required. Unless agreed otherwise, the signatory of the schedule is jointly liable for payment of the assigned receivables.
Which lenders can receive a Dailly assignment?
The French Monetary and Financial Code reserves Dailly assignment to credit institutions, financing companies and certain alternative investment funds. Since 14 March 2025, a schedule made out to order can be drawn up, signed and transmitted in electronic form.
What volume of receivables does factoring finance in France?
Factoring companies purchased €439,430m of receivables in France in 2025. This volume grew by 1.9% year on year. Receivables outstanding for collection reached €66,070m at 31 December 2025.
Since when have French companies securitised their receivables?
Securitisation has existed in France since 1988. Industrial and commercial companies have had access to it since 1998. The securitisation vehicle takes the form of a securitisation fund or a securitisation company.
From what amount can a company request an introduction?
France Épargne Corporate introduces to private debt funds the companies whose financing need reaches €20m or more.

Contact

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Sources