Data as of November 9, 2026. In 2025, 5,552,463 electronic invoices worth CLP 48.7 trillion were assigned in Chile, according to the SII's Public Electronic Register of Credit Transfers, the database that records every factoring transaction. From January to September 2026 there were already 4,288,300 invoices worth CLP 38.6 trillion, and September posted the year's highest monthly amount: CLP 4.8 trillion. The figures come from the SII, Electronic assignment statistics (RPETC), accessed November 9, 2026.
View the data as a table
| Invoices assigned in 2025 | 5,552,463 |
| Amount assigned in 2025 (CLP trillion) | $48.7 |
| Average amount per invoice in 2025 | $8,769,497 |
| Amount assigned in September 2026 (CLP trillion) | $4.8 |
Factoring: what it is and how it works in Chile
Factoring is the sale of an invoice receivable to a finance company, which advances the money and then collects the invoice from the customer when it falls due. It serves companies, especially small and medium-sized ones, that sell on 30-, 60-day or longer payment terms and need cash sooner. In Chile it works because Law 19,983, from 2004, allows the electronic invoice to be assigned and makes it enforceable: if the debtor does not pay, the invoice buyer can collect through the courts. Each assignment is recorded in the Public Electronic Register of Credit Transfers (RPETC) run by the SII.
- 1. The company issues the invoice to its customer, who has a legal 8-day period to dispute it; if it does not, receipt of the goods or services is deemed acknowledged.
- 2. It assigns the invoice to a factoring company, which checks the invoice and the debtor, and the assignment is recorded in the SII register.
- 3. It receives an advance on part of the amount, minus the price difference (the interest) and fees.
- 4. The debtor pays the factoring company at maturity, and it returns the balance (surplus) to the seller of the invoice.
Sources: Law 19,983 and the SII, Electronic assignment statistics (RPETC), accessed November 9, 2026, which defines the 8-day dispute period. For large companies, Law 21,131 set the 30-day payment rule for invoices in 2019, which limits the payment terms a large company can impose on its suppliers.
What factoring costs
Factoring costs have three parts. The price difference is the interest the factoring company charges for advancing the money, calculated on the days left to maturity. The advance rate is the share of the invoice paid upfront (the rest is held as a surplus until the debtor pays). And fees and expenses cover assessment, notification and collection. There is no official comparator of factoring rates, so each company must get quotes and ask for the total cost in writing.
| Item (illustrative example) | Assumption | Amount |
|---|---|---|
| Invoice due in 60 days | — | CLP 10,000,000 |
| Advance | 90% | CLP 9,000,000 |
| Price difference | 1.5% a month × 2 months on the total | CLP 300,000 |
| Received today | — | CLP 8,700,000 |
| Surplus at maturity | 10% | CLP 1,000,000 |
| Cost as % of the invoice | — | 3.0% |
This example uses Pauta Financiera's assumptions, not market rates, and excludes fees. It shows the mechanics: with a 1.5% monthly price difference, advancing a CLP 10,000,000 invoice for two months costs CLP 300,000. The real cost depends on the debtor's risk (an invoice owed by a large company is safer than one owed by a small business), the term and the amount. Freelancers who issue fee receipts can see our guide to accounts for self-employed workers.
Does your company offer factoring or SME financing? Advertise on Pauta Financiera and reach business owners looking for liquidity.
See advertising optionsThe factoring market in figures: invoices assigned year by year
The SII register is the best public measure of the size of factoring in Chile. The amount assigned went from CLP 13.1 trillion in 2015 to CLP 48.7 trillion in 2025, more than triple. The only year of decline was 2020, with the pandemic (CLP 22.8 trillion). In 2025 the amount grew 5.3% and the number of invoices 10.3%. The average amount per assigned invoice was CLP 8,769,497 in 2025 and CLP 9,004,484 from January to September 2026.
View the data as a table
| Amount assigned | |
|---|---|
| 2015 | $13.1 |
| 2016 | $15.8 |
| 2017 | $19.2 |
| 2018 | $22.0 |
| 2019 | $25.9 |
| 2020 | $22.8 |
| 2021 | $28.9 |
| 2022 | $38.7 |
| 2023 | $41.1 |
| 2024 | $46.2 |
| 2025 | $48.7 |
| Year | Invoices assigned | Amount assigned | Change in amount |
|---|---|---|---|
| 2015 | 2,705,442 | CLP 13.1 trillion | — |
| 2016 | 3,264,955 | CLP 15.8 trillion | 20.1% |
| 2017 | 3,750,569 | CLP 19.2 trillion | 21.5% |
| 2018 | 4,310,991 | CLP 22.0 trillion | 14.7% |
| 2019 | 4,634,867 | CLP 25.9 trillion | 17.4% |
| 2020 | 3,699,364 | CLP 22.8 trillion | -11.9% |
| 2021 | 4,004,360 | CLP 28.9 trillion | 27.0% |
| 2022 | 4,503,090 | CLP 38.7 trillion | 33.7% |
| 2023 | 4,512,189 | CLP 41.1 trillion | 6.2% |
| 2024 | 5,035,107 | CLP 46.2 trillion | 12.5% |
| 2025 | 5,552,463 | CLP 48.7 trillion | 5.3% |
Source: SII, Electronic assignment statistics (RPETC), accessed November 9, 2026. Nominal amounts, not adjusted for inflation.
The monthly average from January to September 2026 was CLP 4.3 trillion, 5.7% above 2025's monthly average (CLP 4.1 trillion). If the pace holds, 2026 would close with a new annual record, although the last quarter will depend on activity: in September the economy grew just 0.2% year on year, according to the Imacec.
Invoices that can and cannot be assigned
Not every invoice qualifies for factoring. The SII classifies documents by acknowledgment of receipt: from January to September 2026 there were 63,419,954 documents with acknowledgment and 115,753,115 not disputed within 8 days, both assignable, versus 2,797,714 disputed (1.54% of credit documents). Another 181,018,783 were issued as cash or no-cost payments, and those cannot be assigned.
- 2004Law 19,983Regulates invoice assignment and makes invoices enforceable.
- 2005First electronic assignmentsThe SII register records 4 invoices assigned in the whole year.
- 2019Law 21,13130-day invoice payment.
- 2020Pandemic dropCLP 22.8 trillion
- 2025Annual recordCLP 48.7 trillion
Who offers factoring in Chile and what types exist
Four kinds of players offer factoring in Chile: banks, directly or through subsidiaries; non-bank factoring companies, some with securities registered with the CMF; digital platforms that connect small businesses with funders; and the Bolsa de Productos commodities exchange, where invoices are traded. All of them operate on the same SII register, which makes the assignment public and makes it possible to check that an invoice has not been assigned twice. Before signing, verify who the invoice buyer is and whether it is supervised.
| Type of factoring | How it works | Who it suits |
|---|---|---|
| With recourse | If the debtor does not pay, the seller of the invoice is liable to the factoring company. | Small businesses with medium-risk customers; usually cheaper. |
| Without recourse | The factoring company bears the debtor's non-payment risk. | Sellers to large, solvent companies who want the risk off their balance sheet. |
| Reverse factoring (confirming) | The large buyer arranges early payment to its suppliers with a bank. | Suppliers of large companies who want to be paid sooner. |
The average size of each assigned invoice, about CLP 9,004,484 in 2026, shows that factoring in Chile is mainly working-capital finance for companies that sell to other companies. For self-employed workers who issue fee receipts (boletas de honorarios), factoring does not apply, because the receipt is not an assignable document in this register.
When factoring makes sense and what to check first
- It makes sense when the customer is solvent, the payment term is long and the company needs cash to produce or pay suppliers.
- Check whether it is with or without recourse: in factoring with recourse, if the debtor does not pay, the company that assigned the invoice must answer for it.
- Compare the total cost: price difference, fees, notification costs and the share held as surplus.
- Alternatives: a credit line or a commercial loan may be cheaper for companies with a track record; for individuals, consumer loans are compared in our consumer loans article.
Frequently asked questions about factoring
What is factoring in simple terms?
Selling an invoice that falls due in the future to receive most of its value today, in exchange for a discount.
How many invoices are assigned in Chile?
5,552,463 in 2025, worth CLP 48.7 trillion, according to the SII. From January to September 2026 there were 4,288,300.
Can an invoice the customer disputed be assigned?
Not under normal factoring conditions: assignable invoices are those with acknowledgment of receipt or not disputed within 8 days. Invoices issued as cash or no-cost cannot be assigned either.
How much does a factoring company charge?
It depends on the debtor, the term and the amount; there is no official comparator of factoring rates. Always ask for the price difference, fees and surplus in writing before assigning.
Which law governs factoring in Chile?
Law 19,983 of 2004, which governs invoice transfers and makes invoices enforceable, together with the SII rules on the Public Electronic Register of Credit Transfers. Law 21,131 of 2019 set 30-day invoice payment.
This information is journalistic and educational, not financial advice. Check the conditions and the total cost (CAE) with the institution before signing up.
