About Finance Factoring
Many companies and entrepreneurs provide products or services and do not get paid until long after they have done their work. This often causes cash flow problems that prevent them from taking their business to the next level, taking on other work, or even paying their employees.
Factoring is a great way for businesses to get money for the work they have done quickly. Ontario factoring companies like Growth Capital provide businesses with immediate cash for their invoices without them having to take out a loan.
How does factoring work?
When you operate a business in Ontario, you sell products or services to your customers and issue invoices. If your customers are slow-paying, you can factor these invoices by sending them to Growth Capital, Ontario’s best factoring service.
When we receive the invoices, we will verify them with your customers and then advance you 70-100% of the value of the invoices. This usually takes less than 24 hours and provides you with the cash you need.
When your customers send their payment for the invoices to us, we rebate the remaining value of the invoices to you, minus our factoring service fee. Our factoring service fee will depend on a number of things, as we consider the different needs and circumstances of each individual client. We will also work with our clients to agree on a service fee prior to any exchanges, so you can be sure you get the premium service and low rates that we are known for.
Looking for a factoring service in Ontario?
Growth Capital is a factoring service that helps small businesses get to the next level, get over hurdles, expand, and meet financial challenges with confidence.