Sygnus Investment Bahamas rolls out receivables factoring platform for SMEs

Jamaica's Sygnus Capital Group has begun the phased roll-out of a receivables purchase platform through its subsidiary Sygnus Investment Bahamas (SIB).

 

The platform helps eligible Bahamas-based businesses to convert approved unpaid invoices into timely liquidity, through a facility financed by Inter-American Development Bank (IDB) Invest, the private sector arm of the IDB Group.

 

The SIB platform has received institutional capital support from IDB Invest and Sygnus Credit Investment (SCI). IDB Invest has offered a loan facility of up to US$10 million, and SCI granted seed funding of approximately US$1 million, with capacity to scale up to US$5 million over time. 

 

SIB expects to use the funds to purchase eligible receivables from approved suppliers in The Bahamas, focusing initially on eligible suppliers and contractors with verified receivables linked to public-sector and infrastructure-related projects. The company plans to thereafter scale to a broader base of eligible Government suppliers, SMEs, and suppliers to private sector counterparties. 

 

The phased roll-out, future scaling, and any expansion of the platform will remain subject to internal approvals, regulatory considerations, and market conditions.

 

“This partnership represents an important step in our strategy to deepen Sygnus’ presence in The Bahamas while delivering a practical solution to a real business challenge,” explained Gregory Hines, vice-president, Asset Backed Investment & Projects, Sygnus Capital Limited.

 

“Through Sygnus Investment Bahamas Inc., we are creating a platform that will help eligible suppliers convert unpaid invoices into timely liquidity, allowing them to better manage cash flow, execute contracts, support employment, and reinvest in their businesses,” he said.

 

SMEs play a central role in The Bahamas’ economy, accounting for approximately 98 per cent of business licences and about 47 per cent of total employment. With this platform, SIB therefore intends to support a critical segment of the business community by improving access to liquidity tied up in unpaid invoices. 

 

The roll-out of the programme represents a key step in Sygnus’ strategy to strengthen its presence in The Bahamas. It creates a channel for eligible suppliers to access liquidity from unpaid invoices more efficiently while building on Sygnus’ regional track record of mobilizing capital for public and private sector projects across the Caribbean, including infrastructure and development initiatives in The Bahamas. 

 

Suppliers operating across key sectors in The Bahamas, including construction and infrastructure, tourism and hospitality, manufacturing, information and communications technology, utilities, and other service-based industries are eligible to trade their receivables. As the phased roll-out progresses, the solution is expected to help eligible suppliers better manage cash flow, meet operating obligations, execute new contracts, strengthen supply chains, and reinvest in growth. 

 

Technical Cooperation and Responsible Roll-out 

The partnership also includes a technical cooperation component under which Sygnus and IDB Invest will collaborate on market studies to identify priority sectors, supplier segments, and areas of unmet working capital needs in The Bahamas, including women-led businesses and other high-impact SME categories. These studies will help inform the phased rollout of the platform and identify areas where receivables purchase solutions can have the greatest developmental impact. 

 

The platform is also expected to contribute to the development of The Bahamas’ financial market by creating a disciplined channel through which institutional capital, including potential domestic institutional participation over time, can be mobilised into short-term receivables-backed assets linked to real economic activity. Subject to applicable approvals,the platform may support the responsible development of receivables-backed funding channels linked to real economic activity. 

 

In addition to its equity investment, Sygnus Credit Investments Limited will provide credit support as guarantor for the IDB Invest facility, reinforcing alignment between IDB Invest and Sygnus as the platform is rolled out. 

 

“At its core, this platform is about helping Bahamian businesses convert earned receivables into liquidity faster and more predictably,” Hines stated. 

 

“Our focus is on building a disciplined and transparent platform that gives all stakeholders confidence in how receivables are verified, purchased, and settled,” he added. 

 

Building a Scalable, Technology-Enabled Platform 

SIB plans to roll out the platform in phases, beginning with a controlled pilot before scaling into a broader technology-enabled receivables purchase platform across The Bahamas. Over time, the platform is expected to support digital onboarding, invoice submission, verification workflows, and streamlined processing for eligible suppliers. 

 

As the platform expands, SIB intends to work with local professionals, business organisations, suppliers, and counterparties to support education, adoption, and responsible market development. 

• JS

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