Receivables factoring in Greater Toronto
Greater Toronto has the largest economy in Canada and is a major economic hub for commerce, distribution, finance and industry. The metropolitan area of Toronto produces more than half of Canada’s manufactured goods. It’s Canada’s banking and stock exchange headquarters, and the country’s primary wholesale and distribution center.
Accounts receivable factoring improves your cash flow because you don’t have to wait 30, 45 or 60+ days to collect your receivables. Factoring companies buy your invoices and send you cash within 24 to 48 hours.
Invoice factoring is an attractive financing option for small businesses in Toronto. Unlike waiting weeks or months for a bank loan approval, you can obtain invoice factoring in a matter of days.
Working with a factoring company will help your small business improve its cash flow. You also get receivables management, credit services and a financial partner to help you grow and succeed.
Many factoring companies can approve your application within several business days. Often, you can get your first funding within 5 to 10 days, making invoice factoring a quick and easy process.