Financial Partner with a Different Perspective

For 30 years, nordwest Factoring & Service has ensured that medium-sized companies can sustainably survive in the market and build sustainable liquidity management. 'Our slogan 'We speak medium-sized' actually says it all,' summarizes Simon Schach, Sales Manager. 'We are a peer partner and also a medium-sized company ourselves. This gives us a different perspective than a classical bank, for example.'

Full Service Factoring

nordwest Factoring & Service was founded in 1994 and is a subsidiary of SVG nordwest eG. Initially, the company focused on pre-financing freight claims from logistics companies and forwarding agencies. Today, they serve medium-sized businesses from all sectors, except the main construction industry and rents. 'Factoring fulfills three functions,' says Simon Schach. 'Liquidity function, security function, and accounts receivable management. This means we purchase invoices and transfer them to the customers within 24 hours; we also insure invoices against default and take over debtor management tasks such as accounts receivable management. This relieves clients in administrative matters, allowing them to focus on their core competencies.'

A Peer Partner

nordwest Factoring & Service has convinced many customers with its professional service – the average stay duration is 11.4 years – and has continuously grown. Over time, three other factoring companies have been acquired, and the number of employees is now 20. 'We initially financed 30 million DM, and today it is 500 million EUR,' says Simon Schach. 'By 2030, we aim to increase the volume to 850 million EUR. The goal is to become the largest medium-sized factoring company without banking in the background. We want to grow but maintain our individuality.'

A Valuable Business

nordwest Factoring & Service wants to continue being individually approachable and accessible to customers at all times, even as more processes are digitized. 'The digitization should be advanced further,' says Simon Schach. 'The entire accounting is already digitized. Another project we are working on is an electronic customer portal, to digitally store all invoices for customers, instead of sending them.' Consuming less paper and thereby acting environmentally conscious is important to the company. In 2024, nordwest Factoring voluntarily created an extensive sustainability report. Values such as financial strength, honesty, and not least humor play a major role in the daily interactions at the Hamburg location. 'We are not only very value-oriented but also very people-oriented,' emphasizes Simon Schach. 'And we love being able to accompany people in growing. And doing so sustainably.'