For as long as commerce and trade have been around, factoring and asset based lending have been an integral part of the financial structure of markets throughout the world. Often times, companies do not have sufficient knowledge of the products and services that a invoice purchaser offers and feel as though there are no other alternatives to traditional bank financing. Invoice purchasing and accounts receivable financing offers the flexibility of controlling your cash flow without obtaining further debt and tying up valuable assets.
Also, know by many other names such as factoring, invoice discounting, working capital loans, selling receivables to mention a few. This process is the sale of your invoices for immediate cash. Once you qualify, you will immediately be advanced an agreed upon percentage of invoices that are purchased. Once payment by the client is received, the remaining balance due will be remitted to you. This Process is ongoing and is great way to fund peak demand times in your business.
By utilizing these methods, your business is able to:
- Improve cash flow
- Meet Payroll
- Enhance business growth potential
- Take advantage of supplier discounts
- Add more depth to existing financial facilities
Whether your company is seeking growth or requires financial restructuring to put your business back on the path to success, we can help you achieve your goals by providing the advice and access to the capital you need now.
Through our solid alliance with a multitude of invoice purchasing financial institutions and private finance companies across Canada & the US, The Cancorp Group is your one stop financial solutions company that can look after all your invoice receivables and get you on track with the least cost of time & money to you.
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Benefits of Invoice Purchasing |
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Typical Invoice Financing Clients
We provide invoice purchasing and working capital to small- and middle-market companies throughout Canada in a broad range of industries, including manufacturing, wholesale / distribution, construction etc. and host of other selected service business that generate accounts receivables. Our extensive lender base in this sector allows us to fit the appropriate lenders appetite with the correct client in a time and cost effective manner.
How Invoice Purchasing Works
- You submit an application along with details on your accounts receivable.
- We respond with preliminary approval in 24-48 hours.
- The due-diligence team analyzes your account receivables.
- You receive up to 85% of your invoice immediately instead of waiting weeks or months for payment.
- Your customers pay invoices directly to you as always, and we work to ensure timely payment.
- The remaining amount of the invoice, less discount fee, is remitted to you when your customer pays the invoice.
- Your personalized loan management team, an account executive and an analyst, closely monitor the collateral and help you manage your financial operations. You receive daily cash transfers and real-time online reporting; this may vary slightly, depending on the approval criteria.
Please feel free to complete an online information request form or call The Cancorp Group representative directly to see if your current situation may qualify for funding. Alternatively, see how our invoice purchase financing can work for you call or complete the contact form.
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