Ontario Factoring Services
Factoring is a type of business financing in which a factoring company purchases accounts receivable in exchange for an immediate payment. This payment provides liquidity to the business. In the Ontario factoring market. the amount of funding on an accounts receivable loan is based on the value and age of the receivables. Funds can be used for all aspects of daily operations, including employee wages, utility bills and inventory. Because there is no need for further collateral, this loan is highly attainable for businesses who have been denied a traditional loan.
Accounts Receivable Financing in Ontario with Low Fees
Once an applicant is approved for a loan, the financing company will typically charge a factor fee. This fee is dependent on how long it will take until the invoices are paid. Usually, factor fees are calculated on a weekly basis. Our Ontario based factoring team focuses on keeping these fees as low as possible.