Factoring Invoices is the Canadian Alternative Financing Strategy

What is an alternative financing strategy? An increasing number of business owners in Canada are beginning to discover what so many American business owners already know. Factoring invoices as a cash flow fix is becoming an increasingly popular strategy.

Canada’s business owners are recovering from a hit taken in 2010. This has an impact on accounts receivables, customers are slower to collect on their accounts receivables, thus they are later on paying invoices. Prior to the downturn Canadian business owners had stacked up their investments in receivables and inventory. This puts Canadian business owners in a squeeze because their money is tied while their customers are taking longer than the 30 days per term provided. This also puts pressure on management to focus on cash flow management rather than focus on growing their business.

The factors involved in this mess are easy to understand. You have your suppliers, our land lord, and your faithful employees. Each of them expect to get paid each month, and when your funds are overdue receivables they can take up to 30, 60, or even 90 days to collect.

So what is a company to do? Go to the bank and hope to get approved within months, or go for venture capital? Neither Canadian business owners are turning towards factoring invoices. By entering into factoring invoices Canadian companies can establish an immediate cash flow, almost within hours. In the United Stated factoring invoices is referred to as “accounts receivable financing” or “invoice discounting.”

Factoring invoices is rather simple. You can refer to Neebo Capital to see factoring infographics that display factoring visually. As a business owner you deliver your invoices to a factoring firm (Neebo Capital) who delivers you funds the same day for a single invoice or a group of invoices.

Accounts receivable financing is not a loan, you do not give up ownership of you business. In fact you get instant access to money with as little as .59 to 1% charge from the factoring company. The factoring company also collects on your invoices for you, they carry the risk of the receivables for you.

Canadian business owners realize the factoring benefits outweigh the minor costs. Instead of waiting weeks for a bank to give them a decision they are turning to factoring companies to see who will give them the lowest rate.

Within 24 hours you can receive up to 80-90% advance on your invoice face value. The factor company does not charge you a fee until the rest of your invoices are collected on. Don’t waste any time and take advantage of this alternative financial strategy that many Canadian business owners already are. Visit Neebo Capital for a free no obligation financial check up. Don’t consider bankruptcy or giving up ownership of your business without discovering what Canadian business owner already have.

Get A Free Financial Check-up Today

Published by

Chris Lanchech

Hi everyone, my name is Chris and I am a junior analyst at Neebo Capital and an inspiring blogger. We enjoy speaking with business owners and entrepreneurs who come to Neebo Capital looking for cash flow solutions. Give us a call toll free at 1-888-382-3766 or Visit us online at www.neebocapital.com

6 thoughts on “Factoring Invoices is the Canadian Alternative Financing Strategy”

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