Leverage Your Accounts Receivables in Alberta with Invoice Factoring
NO OBLIGATION! NO HIDDEN FEES!
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Individual Invoice Financing Available
Invoice Factoring in Alberta. How Does it Work?
Traditionally, invoice factoring companies would need a commitment from you for all of your aging accounts with all your debtors. In most cases you would also need to provide some kind of security, like a personal guarantee. Our invoice factoring partner company defers from the competition because there are NO CONTRACTS, NO PERSONAL GUARANTEES OR SECURITIES, and YOU CHOOSE each individual invoice you would like to factor. Once your debtor is vetted by the lender, you will be able to select which invoices you would like to gain immediate access to capital from. This applies whether you have a single debtor or multiple. The control and flexibility is in your hands. Submitting an invoice is done online, for which you will be funded 80% of it’s value up front, minus fees. The factoring interest rate is compounded monthly, until collection is completed. Once the invoice is paid in full, the remaining 20% will be funded to your business.
How Much Does it Cost?
- 2% origination fee for the initial set up. This amount is deducted from the first funding deposit.
- Factoring interest rates are compounded monthly. The first month is also deducted from the initial funding deposit.
- The interest rates are dependent on the credit worthiness of your debtors and can vary between them. With that said, invoice factoring rates can be as low as 1.6%
- The best way to determine the interest rate is to apply. There is NO RISK and NO COMMITMENT. You will be made aware of your rates once your debtor is reviewed and approved.