Invoice Factoring - Canadian Business Funding
Express Business Funding
Factoring Services, Invoice Factoring, Invoice Factoring Company
What is Invoice Factoring?
Invoice Factoring is the purchase of accounts receivable for immediate cash. It is an ideal source of funds for companies undergoing growth or that require more working capital than available through a traditional lender.
Invoice Factoring is a process by which a business sells one or more of its invoices to a third party (an invoice factoring company). Also called accounts receivable factoring, this transaction allows the business to be paid upfront a certain percentage of the invoice’s monetary value.
How Invoice Factoring Works
- With Express Business Funding you continue with business as usual, selling your goods/services to your customers and issue invoices.
- You send us a copy of the invoices you would like to factor – along with appropriate proof-of-delivery backup.
- We verify the invoices with your customers.
- Once we approve your invoice, your business will receive funds equaling 75-90% of the invoice face value.
- When invoices mature, customers make payments directly to us on your behalf.
- After payment of the invoice, we pay the remaining 10-25% of the invoice; less our pre-arranged factoring service fee.
What Are Our Rates?
As a leading accounts receivable financing company in Canada offers some of the most competitive rates amongst Canadian Invoice Factoring companies. Our Invoice Factoring rates start as low as 1.25%. To find out what rate your business would qualify for, fill in the form below.
As a business funding product, accounts receivable factoring involves much more than just a business loan rate. Our expertise in this area allows us to provide additional flexibility, industry specialized services, and bonus services to help Canadian businesses stay focused on their growth.
Canadian Invoice Factoring Company Comparison
Most Canadian financing facilities that offer accounts receivable financing and invoice factoring operate in an intrusive manner towards Clients and their customers; insisting that they (the Invoice Factoring company) manage the entire process from invoice mailing to final collection. This can often create a conflict since the Client may not have full control over when the invoice is actually sent to their Customer. In these cases, the Client has lost an important level of control, and their business will pay for it!
Then, if the company managing your account receivables insists on controlling the collection process as well. Be aware that an invoice factoring company often makes more money the longer the invoice is outstanding, since the fee is usually directly tied to how long it takes for the invoices to pay.
Express Business Funding allows their clients to manage and initiate collection of their own account receivables (invoices) without the ongoing involvement of a third party. Our perspective is that the client already has a relationship with their customer and is therefore in the best position to make follow-up calls and deal with any potential disputes. Our approach is radically different: as a leading Canadian Invoice Factoring Company, we strive to have as little involvement as possible with a client’s customers. Our clients are allowed to manage their own accounts receivable, and unlike the other guys, we do not make collection calls to their customers.
, Invoice Factoring
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