Invoice Factoring Calgary, Edmonton & More!
Helping Companies in Alberta Grow!
Calgary is recognized as a Canadian leader in the oil and gas industry as well as for being a leader in economic expansion. Its high personal income, low unemployment and high GDP per capita have all benefited from increased sales and prices due to a resource boom, and increasing economic diversification. The Calgary Edmonton Corridor, is also one of the fastest growing regions in the country. It is the head office for many major oil related companies, and many financial service businesses have grown up around them. Small business and self-employment levels also rank amongst the highest in Alberta. It is also a major distribution and transportation hub with high retail sales. Many of these growing businesses need assistance when it comes to cash flow and cash flow planning and that’s where Express Business Funding can help!
Edmonton is the major economic center for northern and central Alberta and a major center for the oil and gas industry. Edmonton traditionally has been a hub for petrochemical industries. Supply and service industries drive the energy extraction engine, while research develops new technologies and supports expanded value-added processing of the massive oil, gas, and oil sands reserves. Despite the apparent focus on oil and gas, Edmonton’s economy is one of the most diverse in Canada. Popular within this industry is the use of invoice factoring companies in Alberta. Express Business Funding is a Canadian business finance company who has had a presence in Alberta for over 13 years.
What is Invoice Factoring?
Invoice factoring services are the process in which a firm sells an invoice which is due to them in the future to a vendor, who pays them money for that bill today. The process is similar to a cash advance; it is designed to assist new or growing businesses create predictable cash flow.
Here is how it works. Let’ assume you own a temporary staffing company which has provided $50,000 of staffing services to XYZ Manufacturing. The payment term for this $50,000 invoice is net 45 days, meaning XYZ Manufacturing has 45 days from the date the invoice is issued, to pay the full bill amount.
It is now your busiest time of year and you are growing rapidly. You are short on the cash needed to pay your growing number employees and just can’t wait 45 days (or potentially longer) to receive the money from XYZ Manufacturing. If you were to work with a factoring company in Calgary, they will purchase the bill the day it is created and advance you the money you need now. The vendor would advance you (for example) 80% of the invoice now. You can use those funds to pay your employees and cover off other obligations. When XYZ Manufacturing pay the bill in full, the vendor remits to you the 20% balance (minus the fee earned for providing the service). In return for the initial advanced payment you assign the bill and debt owed by XYZ Manufacturing to the factor.
Our Unique Benefits & Offerings
When you choose to work with a trusted and innovative invoice factoring company in Alberta, such as Express Business Funding, your business receives numerous benefits focused on helping you grow your business. With industry specialized products such as gas and oil and freight factoring (to name a few), business financing flexibility (no long term contracts), competitive invoice funding rates, and supportive benefits to give your company extra tools – it’s no wonder businesses are turning to us to fuel business growth opportunities. Our hands-off approach with our client’s when it comes to accounts receivable finance solutions is quite unique compared to other factoring companies in Calgary.
Express Business Funding leaves you in control with no lengthy contracts. Choose which bills you wish to send us and we’ll provide you with working capital within 24 hours. Our staff is very well acquainted with common industries in Edmonton / Calgary and their logistics, including participants, nuances and pitfalls, which are common amongst businesses seeking financing services in Alberta.
How To Get Started?
We offer rates from just 1.49%, a fast 24 hour funding process and online platform to manage your financing. Express Business Funding can also guide you and your business in risk management, cost reduction, building supplier confidence while providing you with the business funding you need to keep up with growth.
Fill in the form or give us a call. Find out how our specialized business funding products can fuel your cash flow without going into debt. If you decide to complete an application form (click here), Express Business Funding can provide you with funding approval within 24 hours. Once you have been approved, all you have to do is send the bills you would like to finance. It’s Fast, Easy and Affordable!
Best Factoring Company in Edmonton
Choosing the right financing solution is certainly one of the largest considerations. However, it is important to select the right vendor who offers options that suit your particular needs. Express Business Funding doesn’t tie companies into lengthy contracts that take away control from you. We leave control with you and provide you with optional resources at no additional cost that allow you to focus on business growth instead of your accounts receivables.
Thanks to our long standing relationship with businesses like you, we are the premier Alberta invoice factoring company. We have been recognized for the innovative services we provide to Calgary businesses and throughout this great province.