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Receivables factoring in Canada
Canada’s economy is dominated by the service industry but also has significant sectors in technology, manufacturing and oil and gas exports. Ontario is the largest economic province in Canada, with a GDP nearly twice that of Quebec. The world’s second largest technological innovation center is located between Toronto and Waterloo; second only to California’s Silicon Valley. The area employs nearly 300,000 tech workers and represents over 60% of Canada’s high tech industry.
Factoring companies buy your invoices and send you cash within 24 to 48 hours. You don’t have to wait 30+ days to collect accounts receivables. Factoring companies also handle all your collections and receivables management.
With bank financing difficult to obtain, small business are relying heavily on Ontario factoring companies for their cash flow needs. Rather than sinking into debt and making loan payments, businesses can have steady cash flow.
A Canada factoring company will help your business improve its cash flow, as well as handle receivables management, credit services and a business partner to help you through the tough times.
Approval in days
Instead of waiting weeks or months for a bank loan approval, your business can get invoice factoring in a matter of days. Initial funding is usually available within 5 to 10 days.