Approval based on your customers’ credit · Advances as you invoice · Funding grows with your sales
Turn unpaid invoices into cash now instead of waiting on 30 to 60 day terms.
The short answer
Invoice factoring turns your unpaid customer invoices into cash now: a factoring company advances most of each invoice’s value up front and pays the balance, less its fee, when your customer pays. It suits businesses that sell to other businesses or government on long payment terms, including newer companies, because approval leans mainly on your customers’ credit.
If your customers are reliable but slow to pay (general contractors, national fleets, government), factoring converts that reliability into predictable cash flow. The factoring partner advances the majority of each invoice up front and collects from your customer on the original terms.
Because the credit decision rests mainly on your customers rather than your business, factoring suits newer and fast-growing companies well. Your available funding grows as your receivables grow.
Why CBL
As you invoice more, the funding available to you grows with it.
Approval leans on your customers’ credit strength, which helps companies without a long track record.
Many facilities include professional, courteous collections.
Factoring advances cash against invoices for work you’ve already completed, so what you can access follows your sales.
Our partners
Banks, credit unions and specialty lenders across Canada. We match your file to the ones that fit it.
How it works
Who owes you, how much, and how long it’s been outstanding. That’s the core of the application.
We match you with a factoring partner experienced in your industry and go through the fees with you before you sign.
Submit invoices as you issue them and receive an advance against each one.
Eligibility
Requirements vary by program. Not sure you qualify? Apply and a person at CBL will review your file.
FAQ
Factoring costs a discount fee on each invoice, and the rate depends on your volume and how quickly your customers pay. A useful comparison is the revenue you would give up by turning down work you cannot float until customers pay. We can model the cost on your actual receivables.
Usually yes: in standard (notification) factoring, your customers send their payments to the factoring partner. This is routine in industries like transportation and construction. Where discretion matters, non-notification facilities are available for qualifying businesses.
It depends on the need: a working capital loan suits a defined, one-time expense, and a line of credit suits costs that come and go. The loan gives you a lump sum that pays down on a fixed schedule. A line stays open to draw, repay and draw again, with interest only on what you use.
Start your application
Apply in one sitting. Approvals can come the same day. Questions? Call 877-522-2498.
Start your application
