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Newfoundland & Labrador: Factoring

Can’t wait up to 90 days to get paid by your clients? This delay can create cash flow problems for small and growing companies. Our invoice factoring program solves this problem by financing your slow-paying invoices. This solution gives you immediate working capital to pay for company expenses and grow your business. We can help you if you:

  • Sell products or services to other businesses
  • Can’t wait up to 90 days to get paid
  • Need capital to pay down business expenses

We are a leading factoring company in Newfoundland and Labrador and can provide you with competitive rates and high advances. Get an instant quote, or call us toll-free at (877) 300 3258 to speak with an expert.

Please select a product:

Invoice Factoring

Invoice Factoring

Provides an advance for your slow-paying invoices from creditworthy customers. Works in most industries including business services, manufacturing, consulting and oilfield services.

Freight Bill Factoring

Freight Bill Factoring

Ideal for Newfoundland & Labrador transportation companies and freight brokers. Our programs help you pay for driver and fuel expenses and position you for growth.

Staffing Agency Factoring

Staffing Agency Factoring

Staffing agency factoring is ideal for growing temporary staffing agencies and personnel companies. We help ensure you have the funds to meet payroll.

PO Financing

PO Financing

Financing for resellers, wholesalers and importers. Our program ensures you have the necessary financing to pay your suppliers and deliver your orders.

Inventory Finance

Inventory Finance

An asset based funding program that helps midsize wholesalers and manufacturing companies that want to improve their cash flow by financing inventory. Offered as an add-on to other programs.

Staffing Companies

Staffing Companies

Specialized finance program that helps staffing companies that need financing to pay employees and other important expenses.

How does invoice factoring work?

Our program finances your invoices in two instalments: the advance and the rebate. The advance is provided as soon as you complete the work and invoice your client. The rebate settles the transaction and is provided once your client pays in full. Transactions follow this format:

  1. You complete the work and submit an invoice.
  2. We advance 80% to 90% of the invoice.
  3. Your client pays in 30 to 60 days.
  4. We rebate 10% to 20%, less the fee.

Since we are financing your invoices, it’s critical that your customers have good commercial credit. This qualification requirement is the most important. In fact, it’s this requirement that makes factoring an ideal source of funding for small companies whose main asset is good clients.

How does purchase order financing work?

Purchase order (PO) financing provides you with working capital to pay suppliers for related expenses. PO financing allows you to cover large purchase orders that exceed your current resources. For more information and to learn about its benefits, read “How Does Purchase Order Financing Work.”

Benefits

Our programs provide a number of benefits, including:

  • Fast payments on your invoices
  • Growth capital – financing that grows with your business
  • Easy qualification process
  • Quick setup process

Industries

Energy plays a prominent role as one of the major industries in Newfoundland and Labrador. The energy industry is well-suited to benefit from invoice factoring, as many small oilfield services companies often experience cash flow problems when they grow too quickly.

We serve all industries including:

  1. Oilfield services
  2. Transportation
  3. Staffing
  4. And others

Additional resources

Are you evaluating factoring companies? We’d like to help you make an educated decision. You can also learn more about our services by visiting our resource centre, reading our blog, or reading the following articles:

Locations

As one of the leading finance companies in the area, we can provide financing solutions to businesses in every city. Our coverage area extends across the province and includes St. John, Mount Pearl and Conception Bay South.

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