Factoring Company Toronto
The Trusted Name In Alternative Financing
Due to the leading economic foundation of Canada, Express Business Funding has been able to establish itself as a leading invoice factoring company in Ontario. Our headquarters is located in the Toronto area. Due to our proximity to thousands of new and growing companies, we are able to provide flexible financing solutions tailored to specific business needs. Express Business Funding is recognized as the premier choice, amongst many other invoice factoring companies in Ontario.
Toronto is known as an economic leader within Ontario; new and growing businesses make up a large part of the economy. In fact, presently small business and micro-enterprises continue to pop-up at a rapid rate, making up a large portion of our province’s GDP. Companies that offer products and services that are innovative and solve real problems. However, these growing businesses need assistance when it comes to cash flow and cash flow planning and that’s where Express Business Funding can help!
When you choose to work with a trusted and innovative invoice factoring company in Ontario, such as Express Business Funding, your business receives numerous benefits focused on helping you grow your business. With industry specialized products such as construction 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 Toronto.
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 Toronto, 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.
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!
Factoring Toronto – Company Financing
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.
The economy here is rich and diversified; currently Ontario is the largest economy within Canada, its GDP being nearly twice that of neighbouring Quebec, which is the second largest economy. Our province is highly influenced, and run by the service sector, though manufacturing also plays an important role. Ontario is Canada’s leading manufacturing province accounting for 52% of the national manufacturing shipments. Our province’s main exports include: motor vehicles parts and accessories (40.4%), Machinery and mechanical appliances (10.8%), electrical machinery & equipment.
Thanks to these strengths and our long standing relationship with businesses like you, we are the premier Ontario invoice factoring company. We have been recognized for the innovative services we provide to Toronto businesses and throughout this province. Talk to us and we’ll help connect your business with the right finance solution.