A large article about factoring was published in the latest issue of Forbes Kazakhstan (July 2025).Link to the article:https://forbes.kz/articles/v-teni-bankov-novye-istochniki-finansirovaniya-biznesa-vkazahstane

The article is devoted to the growing interest in alternative sources of business financing in Kazakhstan against the background of limited access to traditional bank loans. Despite the increase in the absolute volume of bank loans, their share in the economy decreased to 8% of GDP in 2024, which is significantly lower than in neighboring and developed countries. High interest rates, collateral requirements and lengthy procedures of banks force entrepreneurs to look for more flexible solutions.Factoring becomes one of these solutions. Although its share in Kazakhstan is still less than 0.3% of GDP (up to 20% worldwide), the popularity of the instrument is gradually growing. Factoring attracts entrepreneurs with the opportunity to quickly obtain financing by assigning accounts receivable. An important advantage is its non-regression form, which was first offered in the Kazakh market by the company eFactoring.kz . This approach allows entrepreneurs to avoid the risk of non-payment by the customer and accelerate the turnover of funds.Arnur Tuleuov, CEO and founder of eFactoring.kz emphasizes that factoring solves the problem of cash gaps and promotes rapid business scaling, helping entrepreneurs redistribute cash flows in favor of growth.However, the market is facing a number of challenges, such as low financial literacy of businesses and the predominance of regression factoring, which is virtually indistinguishable from loans. The article suggests reviewing regulatory approaches, in particular, licensing regression factoring in the same way as loans and encouraging the development of non-regression solutions.To accelerate the development of the market, it is necessary to introduce standardized conditions, tax incentives and pilot projects in priority industries. This approach will allow factoring to take its rightful place in the financial system of Kazakhstan, providing businesses with the necessary flexibility, transparency and speed in obtaining financing.