Invoice Factoring in Canada

Factoring provides quick access to cash, improves cash flow, reduces the burden of collections, and allows you to manage and grow your business without waiting for customer payments.

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What is invoice factoring?

A factoring loan, also known as invoice factoring, is a financial service where your business sells its outstanding invoices to a lender at a discount. This arrangement provides you with immediate cash, enhancing your working capital without incurring debt.

What is the process for invoice factoring?

  1. Invoice Submission: Send us your outstanding invoices that you wish to factor.
  2. Verification and Approval: We quickly verify the invoices and approve them for factoring.
  3. Immediate Cash Advance: Receive up to 90% of the invoice value upfront as a cash advance.
  4. Customer Payment: We handle the collection of payments from your customers.
  5. Receive the Balance: Once collected, we send you the remaining balance, minus a small factoring fee.
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What are the benefits of invoice factoring?

  • Improved Cash Flow: Access immediate funds without waiting for customer payments.
  • No Debt Accumulation: Factoring is not a loan; it’s an advance on your own funds.
  • Time-Saving: We manage the collections, allowing you to focus on your core business activities.
  • Flexibility: Factor only the invoices you choose, with no long-term commitments.
  • Credit Protection: Mitigate the risk of customer non-payment.

Can my business benefit?

Our factoring loan services are ideal for businesses that have long invoice payment cycles or are looking to grow without traditional financing. It’s particularly beneficial for small to medium-sized enterprises (SMEs), startups, and companies in industries like manufacturing, wholesale, transportation, and services.

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Invoice Factoring FAQ