Manitoba Factoring Companies

Good billing practices. Your invoices must be current and follow best practices.

No existing liens on their receivables. Your receivables must qualify for factoring and not be assigned to any other entity.

Good, creditworthy clients. Your clients are responsible for paying their invoices, so their credit is more of a concern than yours.

Serve your customers. Deliver goods or services in your usual fashion.

Invoice your client. Send invoices like you usually do and then send a copy to your factoring company, or, if your factoring company offers invoice generation services, let them take care of this step.

Get paid immediately. Your factoring company will advance up to 95 percent of the invoice’s value right away. Cash is usually sent via ACH, so it arrives directly in your bank account within about two business days. Some factors offer accelerated payments, including same-day options, too.

Move forward. Spend your advance however you like and focus on growing your business. Your factoring company waits for payment and follows up on the invoice as needed, so you don’t have to.

Get final payment. You receive the remaining balance when your client pays. The factoring company retains a small amount as a factoring fee.

Approval is easy. Factors are more concerned about the creditworthiness of your clients than your credit history, so you can qualify even if you have been denied a loan.

Funding is fast. Rather than waiting weeks or months for a loan to pay out or clients to take care of your invoice, you can receive money the very same day you earn it.

No debt. Balances are cleared when your client pays their invoice, so your business has no debt to pay back.

Your business may grow stronger. Factoring supports businesses by helping you avoid debt, providing capital as needed, allowing you to seize opportunities, and more.

Advances scale with your business. You’ll automatically qualify for greater advances as your invoice amounts and volume increases.

It’s flexible. You aren’t required to factor all your invoices. Tap into cash only when needed to keep more money in your pocket.

Payroll. Ensure your team is paid on time like clockwork, even if your clients are slow to pay.

Strengthen your team. Recruit, hire, train, and retain top talent.

Manage equipment needs. Whether you need to purchase, maintain, or repair equipment, invoice factoring can provide the cash you need.

Purchase materials and inventory. Factoring makes it easy for you to accept your next order. Purchase supplies and take care of vendor payments quickly to maintain strong relationships.

Comply with regulations. Take care of licenses, taxes, permits, and more promptly to avoid penalties.

Grow. Invest in initiatives to help your business grow or bid on larger projects confidently.

Tackle emergencies. Whether your equipment breaks, Mother Nature throws a wrench in your plans, or another unforeseeable event occurs, factoring can provide cash quickly to allow you to address the problem.

Stabilize cash flow. Unpredictable cash flow can make it difficult to budget and create spending stress. Factoring takes the guesswork out of when you’ll get paid.

Customer credit checks. Factoring companies perform customer credit checks to help ensure invoices are paid fully and on time.

Invoice preparation services. Some factoring companies offer invoice preparation services to streamline your billing and collections processes even more.

Collection services. Factors collect invoice balances for you as part of the normal factoring process to save you time and allow you to focus more on managing the daily aspects of your business.

Industry-specific benefits. When you work with a factoring company that caters to your industry, they’re likely to offer additional services or perks to help your business thrive. For example, freight factoring companies sometimes offer tire and fuel discount programs, access to load boards, and fuel advances.

Comply with regulations. Take care of licenses, taxes, permits, and more promptly to avoid penalties.

Grow. Invest in initiatives to help your business grow or bid on larger projects confidently.

Tackle emergencies. Whether your equipment breaks, Mother Nature throws a wrench in your plans, or another unforeseeable event occurs, factoring can provide cash quickly to allow you to address the problem.

Alternative funding opportunities. Even though factoring is versatile, it’s not right for every situation, and your needs may change as your business grows. Factoring companies often offer other forms of financing to ensure your needs are met.

Factoring Line of Credit

Equipment Leasing and Financing

Commercial Credit Cards

Asset-Based Lending