What is Invoice Factoring?

If your customers take 60, 90 or even 120 days to pay — but you need the money now, invoice factoring may be the best solution to solve your finance needs. Rather than waiting for your customers to pay you, Express Business Funding (The EBF Group Ltd.) will pay you today and will wait for your customer to settle the bill. This type of financing is typically suited to start up or early-stage businesses, those experiencing rapid growth, or it may be as simple as traditional bank financing is not available.

> Factoring in Canada

> Invoice Factoring

> Purchase Order Financing

> Accounts Receivable Factoring





Factoring Companies Can Help Your Business

Create Predictable Cash Flow

If your customers take 60, 90 or even 120 days to pay — but you need the money now, invoice factoring may be the best solution to solve your finance needs. Rather than waiting for your customers to pay you, Express Business Funding (The EBF Group Ltd.) will pay you today and will wait for your customer to settle the invoice. This type of financing is typically suited to start up or early-stage businesses, those experiencing rapid growth, or it may be as simple as traditional bank financing is not available.
Our invoice factoring company provides businesses that need additional or alternative funding options with the finances they need to focus on the growth of their company. Accounts receivable financing type products are designed to improve cash flow and give businesses the flexibility they need to manage ongoing expenses and pursue growth opportunities when they present themselves. Unlike the competition we don’t require long term contracts and take control of your bills – in fact we leave you with the option to choose which bills to finance. Now you have control over your cash flow without worrying about an opportunity you may have to pass on.

The Benefits of Our Service Are Clear

Our competitive low rates, advanced online platform, flexible products, industry specialized features and small business support make us the trusted name and leading factoring company in Canada. Express Business Funding is located in the Toronto area; we are proud to be Canadian! Talk to one of our specialists today for more details.

> Non-Notification Factoring Company

Traditional invoice factoring in Canada is done on a full-notification basis … i.e. a factoring company in Toronto would typically contact your customers to notify them that payment of the bill needed to be remitted to them, not you. Increasingly, business owners are preferring to not involve their customers in this process so the full-notification became an issue. In response, a few invoice factoring companies in Canada (Express Business Funding being one of them) now offer different versions of non-notification solutions where you continue to receive the payments directly from your customers but the payments are deposited in a restricted bank account. Though not all businesses qualify for this option – since it requires a more complex set up and is more risky for the financier – there are situation where this becomes the perfect solution.

> Invoice Factoring Rates – Canada

Express Business Funding offers rates as low as 1.49%. To obtain an accurate quote, please give us a call or fill in the form below. The factor you choose to work with will require a lien or charge over the bills being financed. There are many reasons to choose accounts receivable financing to fund your business:

  • Same or next day financing – Providing you with immediate access to cash.
  • More customized service levels – less red tape so factors are more responsive and quicker to get things done.
  • Stable source of financing – Invoice factoring companies are much more likely to work with you through the ups and downs whereas traditional lenders tend to want to curtail lending when things are not going well.
  • Quick approvals – we can typically give a quick “Yes” or “No” – less than 1-week.
  • Other financing options – Some factors can provide additional financing (beyond just financing bills) – secured by other assets such as purchase orders, equipment, real estate and inventory – and may offer financing of payables to produce a more enhanced cash-flow solution.
 

How It Works?

Your business sells one or more of its bills to a factoring company. The process is similar to a cash advance, however in this case the advance is based on a bill which has been fulfilled by the client seeking funding for their company.
For example: A company is owed $50,000 by a customer, who is expected to pay in 2 months’ time. We know that outstanding bills can negatively affect business cash-flow. A growing business needs that money now to pay bills, keep up with orders, and fuel new growth opportunities. Using our Toronto Invoice Factoring company, the client receives an advance of 75% to 90% of the bill value. After the 2 months the customer pays the value of the bill, the client receives the remaining funds minus a fee for the accounts receivable financing services (similar to interest).

Fuelling Business Growth in Canada

Using invoice factoring and accounts receivable financing type products, allows Canadian businesses to receive a large percentage of the accounts receivable owed to them from their customers upon sale of a bill. The advantage is that businesses are provided with cash flow so that they can keep up with their own financial obligations or fund rapid expansion.
Unlike banks and other financial institutions, what we essentially offer is an alternative financing option for businesses. The benefits of going with Express Business Funding over a bank or other traditional financier are numerous:

  • Canadian banks tend to finance based on the historic financial information of a business and securities that a company has available. If your company is experiencing rapid growth, this practice can actually restrict growth and cash flow. Our Ontario invoice factoring company provides cash flow as your company delivers goods or services.
  • If your company is in financial distress, it may be hard to receive financing from a bank. As a leading factoring company in Ontario, we base our financing decisions on more than a business’ balance sheet. As a growing Canadian business we know the challenges you face. That is why we base funding by looking to the credit worthiness of the company your bill was made out to.
 

EBF vs The Other Guys

Most factoring companies in Canada insist on controlling your bills from beginning to end, some account receivable factoring companies even have you send the bills to them and they in turn deal with your customer! They insist on calling clients to validate the bill. Do follow up collection calls and bad debt collection calls (quite aggressively). This can damage the relationships that businesses establish with their clients, and can give the impression that the outstanding balance has been transferred to a collection agency.
Our approach is radically different: 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.

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